Michael Jackson Doctor Facing Foreclosure

July 30, 2009 No Comments »

foreclosed

I mean really, who isn’t facing foreclosure these days?

The latest high profile victim of foreclosure seems to be Michael Jackson’s former doctor, Conrad Murray, who apparently hasn’t paid his mortgage since January, according to the Las Vegas Review Journal.

Stewart Title of Nevada filed a default notice against the now infamous doctor on July 23, claiming he failed to make the hefty $15,000 monthly mortgage payment on his Red Rock Country Club luxury home since the beginning of the year.

The home in question was purchased in October 2004 for $1.1 million, and subsequently refinanced, with the latest loan a 30-year fixed for $1.656 million taken out in January 2008 from Irwin Union Bank.

Murray, who was with Michael Jackson when he went into cardiac arrest, is at the center of an investigation into what killed the King of Pop.

He is also the subject of a number of other lawsuits related to unpaid student loans and business-related expenses.

Murray had been in negotiations with Jackson’s concert promoter AEG Live to receive a $150,000 monthly salary, as he was expected to accompany the star on his tour in London.

Back in June 2008, it was reported that Michael Jackson was facing foreclosure on his sprawling Neverland estate before it was purchased by private equity group Colony Capital.

It’s unclear if the concert series expected to take place this summer was an effort to pay back the millions in debt related to his real estate woes.

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