Michael Jackson's bad...at paying mortgages

by Rob Peters | February 28, 2008 at 05:13 pm

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Michael Jackson's been in the news twice this week for money woes. First it was the March 19 auction date set for his Neverland ranch, and now he stands to lose a Los Angeles home used by his family.

Maybe Billy Jean was his lover after all--and he's been making alimony payments this whole time.

LOS ANGELES - 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 Jan. 17 on a $4 million loan serviced by Pasadena-based mortgage lender IndyMac Bancorp. Documents dated Feb. 7 show the notice of default was withdrawn.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.