Rasta Pasta
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my sentiments exactly....:cheers:
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Neverland Ranch Auction CANCELLED/Neverland Loan Sold/Statement From MJ (9)
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my sentiments exactly....:cheers:
144000
Proud Member
what trouble?...........................
144000
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what do u mean?
CherubimII
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PEEPS!! This is POSITIVE NEWS!!!!!:cheers:
(Stop trying to make it negative.)_
(Stop trying to make it negative.)_
elusive moonwalker
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u need to go read up and loan and morgages cause you obviously have no clue as to how they work.
eternitys_child
Proud Member
He needs time to turn things around. He IS solving it. I like the way the original article was written. Go back and look at it. It relates the problem to the time he spent in court and then mentions he was aquitted of all charges. It pretty much lays it out in very few words. This may be a good firm for Michael to work with.
CherubimII
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Reuter's Version of the news.
http://www.reuters.com/article/mergersNews/idUSN1150087420080511
Michael Jackson says ranch foreclosure averted
Sun May 11, 2008 3:06pm EDT
NEW YORK, May 11 (Reuters) - Entertainer Michael Jackson said on Sunday a foreclosure sale on his Neverland Ranch property in California has been canceled by Colony Capital LLC, which acquired the loan on the ranch from Fortress Investment Group (FIG.N: Quote, Profile, Research) and is negotiating a deal.
Jackson said in a press release that he was "in discussions" over the ranch with Colony and was "pleased with recent developments."
A spokesman for Jackson declined to provide further details. (Reporting by Dane Hamilton; editing by John Wallace)
© Thomson Reuters 2008.
http://www.reuters.com/article/mergersNews/idUSN1150087420080511
Michael Jackson says ranch foreclosure averted
Sun May 11, 2008 3:06pm EDT
NEW YORK, May 11 (Reuters) - Entertainer Michael Jackson said on Sunday a foreclosure sale on his Neverland Ranch property in California has been canceled by Colony Capital LLC, which acquired the loan on the ranch from Fortress Investment Group (FIG.N: Quote, Profile, Research) and is negotiating a deal.
Jackson said in a press release that he was "in discussions" over the ranch with Colony and was "pleased with recent developments."
A spokesman for Jackson declined to provide further details. (Reporting by Dane Hamilton; editing by John Wallace)
© Thomson Reuters 2008.
CherubimII
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Just remember, it's Wonderful news, because Michael Jackson is pleased with these arrangements.
He released this statement saying so:
:clapping::cheers::clapping:
elusive moonwalker
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reuters are giving a different story as normal. makes it sound like colony have bought the loan off fortress and mj will have to talk to them about sorting out payments. others have said mj has agreed a deal with them through refinancing.
although mjs stattement implies what reuters said is right. i dunno always confusion
although mjs stattement implies what reuters said is right. i dunno always confusion
andythemisfit
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I hope everything goes well for Michael and I wish him all the best.
AllForMJ
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That's right, Michael. Stay focused. God is clearing the runway. :yes:
You know what's cool about this, you guys? Look at the way that Thomas Barrack bought the loan. He did it quietly. He didn't make any self-centered announcements beforehand. He just got in there. And looking at the way that he did it seems like he's going to try and work with MJ on this. It's like he's trying to steady him...stablize him...give him better footing. I wonder if this well-off person is an MJ fan? He drew no attention to this whatsoever and that's so much like what a MJ fan would do.
And way ta go, Zac! You got here just in time for Mother's Day! Excellent timing! lol :flowers:
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144000
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mike is steady
CherubimII
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I agree with you, AllforMJ.
Rasta Pasta
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you haven't a clue .. do you???
its easy to think you have all the answers with a computer and a keyboard...
anyways..moving on....
ahmadnat
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LOL... yay... lets all act stupid and pretend we have no brains ourselves
.wooooh :clapping::clapping:
unk:unk:For gods sake... Mj also said he was happy to be on SMAP SMAP... didnt mean it was a good arrangement! lol
dont know what you all getting confused over. Basically MJ has ammassed massive loans which have been increasing with interest constantly, and the company wanted to get their money back... and they did, through a company who has paid them off, but now MJ's loans will still continue to grow with the interest set by this newly involved company who MJ is now in debt with
After a while, theyll ALSO want their money back... and MJ will try and get someone else to buy the loans.... etc ....
He hasnt got rid of the problem...just delaying the consequences of it a bit. Like moving fire from one hand to another, just to cool down a bit.. instead of putting out the fire.
PEOPLE WHO SAY I'M WRONG, PLEASE CORRECT ME... not just say "you dnot know anything"... you say it how it is
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Rasta Pasta
Proud Member
you had said.. Michael does talk.. but unfortunately.. peeps don't listen..
just agreeing...
because Michael released a press release months ago saying he was re-negoitating his Fortress loan.. because the advisers who originally did it..
didn't do it right...
well, the re-negoitation has now gone throw with Colony...
it just seems like no one listened to him about that....
elusive moonwalker
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the reuters article and mjs statement confuses things
did mj go to this company asking for a deal or did the company just come in and buy it off fortress and now mj has to have talks with them about re payments hence mjs statement. a dodgy road to go down what if talks dont work out.seems a backward way of doing things unless the new company just bought the loan as it is and mj has the same repayments unless things change (ie a lower rate) during talks.meks me wonder what this guys intentions are seeing what his company does if he came in and mj didnt go to him
did mj go to this company asking for a deal or did the company just come in and buy it off fortress and now mj has to have talks with them about re payments hence mjs statement. a dodgy road to go down what if talks dont work out.seems a backward way of doing things unless the new company just bought the loan as it is and mj has the same repayments unless things change (ie a lower rate) during talks.meks me wonder what this guys intentions are seeing what his company does if he came in and mj didnt go to him
elusive moonwalker
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and?? maybe you dont realise but that is what happens when u have a loan or a morgage. unless you come into big money you continue to pay it off over several years. you dont seem to understand this.but im not surpsied.until mj does something to give him a bulk amount of money this is how it will work
Rasta Pasta
Proud Member
LOL... yay... lets all act stupid and pretend we have no brains ourselves
.wooooh :clapping::clapping:
For gods sake... Mj also said he was happy to be on SMAP SMAP... didnt mean it was a good arrangement! lol
dont know what you all getting confused over. Basically MJ has ammassed massive loans which have been increasing with interest constantly, and the company wanted to get their money back... and they did, through a company who has paid them off, but now MJ's loans will still continue to grow with the interest set by this newly involved company who MJ is now in debt with
After a while, theyll ALSO want their money back... and MJ will try and get someone else to buy the loans.... etc ....
He hasnt got rid of the problem...just delaying the consequences of it a bit. Like moving fire from one hand to another, just to cool down a bit.. instead of putting out the fire.
PEOPLE WHO SAY I'M WRONG, PLEASE SAY WHERE I WENT WRONG?
just to repeat.. you really haven't a clue....
oh yeah.. you know what Michael will do in the future before he does it...and you know everything about this loan.. why it was taken out, what
Michael is or isn't going to do with it...etc...
you know, there are tons of celebs out there.. that don't get all their financial biz written about in the news..
no headlines about "being broke" or loans benig sold ..no fires being moved.. "no troubles"...
where you went wrong .. a computer and a key.. don't make you an expert on Michael's finances...
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ahmadnat
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The point is.. these loans are obviously too big an undertaking for Mike if he couldnt do anything about them until last minute even when his house was under threat; I'm sorry but thats not how loans usually work. Even the richest people have loans... but they dont nearly lose their house for it.
MJ obviously wasnt paying it off if they were gonna auction his house
Thats correct... and when it was announced Mj had sorted it all out... it seemed as if he might have actually paid a major amount off or atleast started repayments or something.
But its nothing like that... hes simply moved to another company and if he couldnt pay it off properly in past, hows it any different now? After a while, the new company will get peed off that MJ aint paying, and will threaten him again.
Youre whole argument was flawed, but I'll just reply to this anyway. You dont need to be an expert to know that if you owe someone something and you cant pay it off... its not a good thing.
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Rasta Pasta
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my guess is that it is already a done deal and that is why the media got wiff of it by MJ himself.. but Michael is not giving any details right now.. .. officials statements were made months ago that Michael was looking to re-negoitate this Fortress loan.
MarriedtoMichaelinmyheart
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i am so happy
i wish everything goes on just like the way he desires
wish u alllllllllllll the best :heart:Michael
and thank for posting.
i wish everything goes on just like the way he desires
wish u alllllllllllll the best :heart:Michael
and thank for posting.
AllForMJ
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Mike's enemies were placing enormous stumbling blocks in front of him over the years. They were stacking them up. It was making it hard for MJ to get himself back in motion and that outside interference started impacting different areas of his life. But, this is now coming to a close. He is now at the tail end of it.
Also, pay close, close attention to what MJ is saying...
See, MJ already knows what he wants and needs to do. He just needed the room to do it. It seems like he's going to get it now.
Once he gets things fully rolling again...without hinderance...watch that loan get paid off. It's going to be gone. Mike is going to knock that loan out.
Neverland is a very beautiful place that was being ran...for many years...in a way that shows MJ cares about order. He likes stability along with tranquility.
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elusive moonwalker
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and? yes we know theres cash problems but unless you come into bulk money you have to come to some sort of arrangement to keep paying it off. and when things are foreclosed on like the housing market today you try and refinance
was talking in general with what happens with a loan/morgage, of course eveyone knows mj wasnt paying it off.
well whos fault is that for thinking such a thing? no one told you that was the case. if you think mj is just suddenly gonna get 25 mill like that and pay it all off without him doing an interview for eg or getting if of the bruneis well thats your fault. like others have said u dont seem to have a clue has to how morgages and loans work perhaps you should go read up in them.the bottom line is ppl refinance and try to get better deals.yes we may go through foreclosure stuff again i nthe future depending on when/if mj does anything but things such as this do not justget cleared up unless u come into bulk money u have to pay it off for how ever long it takes. go get a morgage for 30 years and u will see lol
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144000
Proud Member
yeah..my quote feature misfired..sry..
yeah...it doesn't take long for MJ's positivity to be turned to negativity by some fans. yeahhhh i said it.
and..AllForMJ...i realize MJ has enemies. i do listen carefully to what he is saying without putting words in his mouth. i also realize that MJ is still standing after forty something years..
there is nothing to worry about. all these 'people helping him' have come and gone, and continue to come and go. MJ is the only consistent person in the picture. for more than forty years..
that's what i'm getting at...
there is nothing in MJ's statement that suggests that he is in any kind of trouble...nothing at all. and i ain't goin lookin for trouble where there is none...
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hopespringseternal
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Why do we care so much about Michael's money and business again? not like it's going to affect our bottom line if he does or doesn't pay his bills, he's just an entertainer we've chosen on our own free will to buy his cd's nothing more, nothing less.
elusive moonwalker
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cause its something to talks about lol and alot of ppl care about the ranch and what could happen to it ppl care about not seeing him screwed over yet again. if others dont want to talk about then dont go in the threads but dont bemoan ppl who do for whatever reason they have.unfortunatly these sort of things are the only things that are happening with mj at the mo so they end up being discussed