Foreclosures Even Affecting the Rich - Lender to Michael Jackson: Pay up or Beat It

Foreclosures are even affecting the Rich right now. Last month the Hearst mansion went to auction, and now it looks like Neverland Ranch, home of Michael Jackson will be going to autcion.

Lender to Michael Jackson: Pay up or Beat It

"On March 19, at 1:00 p.m., Michael Jackson’s Neverland Ranch in Los Olivos,
Calif., is scheduled for a public auction at the Santa Barbara County Courthouse
at 1100 Anacapa Street. The opening bid is estimated to be at least $20,000,000.
The sprawling Jackson estate — located at 5225 Figueroa Mountain Road — sits on
2,800 acres of rolling hills in California’s wine county north of Santa Barbara.
Financial Title Co. filed the notice of trustee’s sale with the Santa Barbara
County Superior Court on Feb. 26. The auction notice for the property was
recently posted on RealtyTrac, the leading online marketplace for foreclosure
properties." - RisMedia

I wonder where this carousel is going to stop before its over...