Timmy84 said:

Who gave him the loan?

midnightmover said:

Apparently Michael was able to make a "confidential" agreement to Fortress Investment so he wouldn't have to face that auction embarrassment.

Timmy84 said:

Sounds like they're getting their fangs deeper and deeper into his side. None of these people are saving him out of the goodness of their hearts. They're aiming to get bigger and bigger chunks of his remaining assets.
[Edited 3/13/08 10:27am]

midnightmover said:

Hmm... interesting. I think Mike would just sell the house.
[Edited 3/13/08 10:36am]

midnightmover said:

Hmmm, interesting point and that could very well be the case too. Lawd another refinance agreement? All that's doing is delaying the inevitable.
[Edited 3/13/08 11:32am]

NaughtyKitty said:

it just baffles me with the Revenue that the Beatles catolouge produced last year from Across the Universe and Love at the Mirage and whatever commericals have their songs in them this year that he is having soo much trouble.

ehuffnsd said:

If you believe some people, his spending habits have caused him to be millions of dollars in debt. Doesn't mean he'll be broke but he did make bad investments. The trial didn't actually make his finances any better. Michael has to be on his knees thanking God to get out of rough situations! LOL

ehuffnsd said:

Well, he already gave up 49% of the catalogue in a deal with Sony in the late '90s. Sony bailed him out of trouble again a few years ago and may have taken an even bigger chunk in exchange that time as well. I'm not sure what percentage he owns of it now.

midnightmover said:

I've heard two different things:
1.) He's still a 50% owner
2.) He gave up 25% of it

I'll believe in #1...until I see otherwise or get PROVEN otherwise.

Timmy84 said:

1.) He's still a 50% owner and
2.) He gave Sony a option to get another 25%, if he can't pay back part of the loan at a certain date

PatrickS77 said:

That was what I thought, which is why I say these loans are..... "Daaaangerous"

Of course they are... especially if he doesn't go back to work soon!

Get a job, Mike.

He saved it in the 11th hour:

http://news.yahoo.com/s/a...el_jackson

PatrickS77 said:

I'm just waiting for some boob to ask will.i.am about the album.

is anyone really surprised he has managed to avoid this type of things so many times before

b3xy said:

Two words: Hell Naw.

He's only managed to "save" it till May:

http://www.prioritypostin...ctions.asp

type in number: 45778JW



Interesting.

marnifrances said:

Wow...

Timmy84 said:

I sound really negative. lol


I am just not inclined to believe a word anyone says about the property- not Raymone, not the lawyers, and not this website. Who knows what the fuck is going on? *sigh*

if he wants it, he'll keep it, and hopefully this means he's done that.

marnifrances said:

All of them are liars, lol. Only MJ knows what he wanna do with it. I think he's either gonna sell it or make it a different estate and remodeled it into something that doesn't even look like what it did when he first created. Either way, I'm still 50/50 on it. Don't he have other homes anyway? LOL

Timmy84 said:

True. And yes, he supposedly has quite a few, ones the public know about and ones the public don't know about.

With all that money he said he's got, Michael Jackson must be a to not pay off his Neverland Ranch bills.
[Edited 3/13/08 21:13pm]