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Post by david g. on Feb 8, 2008 16:27:39 GMT -5
Michael Jackson has finally paid $600,000 in outstanding taxes on his Neverland home. Although the 'Thriller' singer has settled the huge bill, he could still lose the mansion because he owes $23 million in loans taken out against the home. Jackson has missed the foreclosure deadline set by Fortress Investments, the company which lent him the money, and could face legal proceedings. However, Jackson may have already arranged for a time extension through his billionaire friend Ron Burkle. Tt was first reported in November 2007 that Jackson's ownership of Neverland was in jeapardy after he missed a string of loan repayments. According to a foreclosure report, the singer initially owed $200,000 in property taxes. Additional penalties and interest piled on, and the debt rose to approximatly $600,000. After he was accused of child abuse in 2003, Jackson, 49, moved out of Neverland and vowed never to return. Although the star was later cleared of the allegations, he claimed the ranch brought back too many bad memories for him. Neverland boasts a zoo and an amusement park in the ranch's extensive grounds and often hosted visits for sick and underprivileged children. www.azcentral.com/rsslinks/478704
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Post by keannatoms7 on Feb 9, 2008 0:27:04 GMT -5
I have faith god will help gorgeous michael because he still love neverland I don't believe it's in his heart to let it go.
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