sa_butta
02-29-2008, 11:48 AM
LOS ANGELES, California (AP) -- Public documents show Michael Jackson has repeatedly failed to make mortgage payments on a Los Angeles home that has been used for years by his family.
Documents filed with the Los Angeles County Recorder's Office indicate the reclusive pop star was most recently in default last month on the property in Encino, an area in the San Fernando Valley.
The singer had $153,910 in missed payments as of January 17 on a $4 million loan serviced by Pasadena-based mortgage lender IndyMac Bancorp. Documents dated February 7 show the notice of default was withdrawn.
Documents also show Jackson previously faced possible default over missed payments on the home in April and August.
A spokeswoman for Jackson (http://topics.cnn.com/topics/Michael_Jackson) did not immediately return a call for comment.
Jackson's Neverland property in Los Olivos, California, is set to be auctioned off March 19 because of missed payments on a $24.5 million loan.
http://www.cnn.com/2008/SHOWBIZ/Music/02/29/michael.jackson.ap/index.html
Documents filed with the Los Angeles County Recorder's Office indicate the reclusive pop star was most recently in default last month on the property in Encino, an area in the San Fernando Valley.
The singer had $153,910 in missed payments as of January 17 on a $4 million loan serviced by Pasadena-based mortgage lender IndyMac Bancorp. Documents dated February 7 show the notice of default was withdrawn.
Documents also show Jackson previously faced possible default over missed payments on the home in April and August.
A spokeswoman for Jackson (http://topics.cnn.com/topics/Michael_Jackson) did not immediately return a call for comment.
Jackson's Neverland property in Los Olivos, California, is set to be auctioned off March 19 because of missed payments on a $24.5 million loan.
http://www.cnn.com/2008/SHOWBIZ/Music/02/29/michael.jackson.ap/index.html