Well, today is the big day for the auction, or is it? For those of you who really care, Jackson has worked out an arrangement with BofA to bump the foreclosure sale to May 14th. From what I understand, he owes $24Mil in arrears on a $273Mil note for the place. Either some rich psycho-fan will pony up the money, or he’ll end up losing it to the foreclosure sale. I just want to see what BofA ends up doing with the place. I mean really, what is Bank of America going to do with Neverland Ranch? How much are they going to sell it for as an REO?
I’m sure that’s some valuable land it’s sitting on- maybe a commercial developer will come along and do something with it. We’ll see. Here’s a great clip from TMZ on the thing- it’s the most entertaining clip I could find.
http://link.brightcove.com/services/link/bcpid353549946/bctid1460812952
Breaking news from 
w that he’s in financial trouble- and that’s backed up by the sudden re-release of his ‘Greatest Hits’ on a new album only found on late night television commercials. The report says that he owes $24,525,906.61, but I have a feeling that figure is the original principle balance of the note, not his back payments owed. They also gave a sale date of March 19th. It’ll be interesting to see how this one turns out in the end. I could see some foreign ‘collector’ buying the thing and setting up shop as a museum of sorts. I wonder where MJ will move to? Do you think the bank will issue some ‘Cash for Keys’? Anyone want to buy this thing? I’m sure we could pick it up at about 40% and then flip it for 60%- not a bad pay day…
