Jacko $3M Not Enough

Jacko $3M Not Enough

There are 3 comments on the www.foxnews.com story from Apr 10, 2008, titled Jacko $3M Not Enough. In it, www.foxnews.com reports that:

Jacko $3M Not Enough Michael Jackson ? Just in case you were wondering, he's still in foreclosure with Neverland.

Join the discussion below, or Read more at www.foxnews.com.

jaime

Isleton, CA

#1 Apr 10, 2008
doesn't he own neverland ranch

“Waiting for f'loons to wake up”

Since: Dec 06

Goofybaboon's Not Listening

#2 Apr 10, 2008
No, Fortress is dangling the land hoping Jack0minions will pay increments until the true value of the land is paid. THEN they get to sell it off at the more realistic value, but only when the "fantasy" figure is paid off.

Watch, another payment will be made and another 60 day grace will be added.
lather
rinse
repeat

Sure is predictable. Fortress is sweating this one out.

Since: Nov 07

Englewood Cliffs, NJ

#3 Apr 11, 2008
Reality_Awaits wrote:
No, Fortress is dangling the land hoping Jack0minions will pay increments until the true value of the land is paid. THEN they get to sell it off at the more realistic value, but only when the "fantasy" figure is paid off.
Watch, another payment will be made and another 60 day grace will be added.
lather
rinse
repeat
Sure is predictable. Fortress is sweating this one out.
They are smart to do so, especially in a crappy real estate market. They'll probably never get the full amount he owes them, so might as well get as close as possible by taking every dollar he can beg out of his friends and then selling the property when the market's better. Hopefully they can do the same thing with his catalog ownership. They have to negotiate with Sony on that, but since it is collateral he'll eventually have to sell it and give them the money or just give them the rights. What a moron Wacko is! Who else but a homeless drunk could blow through a billion dollars and end up broke?

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