Michael Jackson’s Loss May Be Your 2,800-Acre Gain

Though he abandoned the property several years back, Michael Jackson held onto his beloved Neverland Ranch on paper while neglecting to continue to pay for it, and like all deadbeat tenants, he’s now facing eviction, since negligence and/or a variety of financial faux pas have left one of the one-time biggest -selling pop acts in the world unable or unwilling to come up with his back loan payments. And while it would be another blow to Jackson’s already dangerously wonky sense of self esteem to lose his Hearst-meets-state-fair abode, you might soon be able to pick up Neverland for a song. Or some paper clips and dryer lint. Or several million dollars.

“You are in default of a deed of trust …,” Jackson was told in the five-page filing, according to a copy of the document published by FoxNews.com. “Unless you take action to protect your property it may be sold at a public sale.” According to the documents, if Jackson fails to pay the outstanding balance, estimated at $24.5 million, Neverland would be sold to the highest bidder at a public auction on the courthouse steps.

Despite always wanting my home to include both a ferris wheel that hasn’t been serviced in three years and the general vibe of the Overlook Hotel, it’s doubtful I’ll be able to afford a Neverland of my own, but maybe only a handful of prospective auctioneers will bother showing up to the courthouse that day? Public auction probably a good idea, too, if only to avoid faked-login confusion so the bank’s not left holding the llama pens.

Michael Jackson Faces Forced Sale Of Neverland [Reuters/Photo: AP]