Michael Jackson is not only in arrears for his Neverland Ranch but he is also hasn’t been making payments on another place in Enchino California. He owes close to 150k in arrears for the smaller properly. MJ is reporting that he is negotiating a new loan for both places that will apparently save his Neverland Ranch. MJ doesn’t want it to go up for auction!

Here is the cover of the latest issue of Jet Magazine. Doesn’t he look looked healthy, happy, and festive? He has come out of hiding to publicize his new remix CD.

Thought you might want to see a recent photo of MJ side by side with the Ebony cover. That is some mad photoshop skillz right there !

The Mortgage Lender Implode-o-Meter has obtained a “Notice of Default and Election to Sell” that makes it very apparent that his property is in foreclosure, because the loan and interest in the amount of $23,212,963.83 are way past due. The notice definitely states that “a breach of, and default in, the obligations for which the Trust Deed is security — has occurred” — because payment has not been made.

The document does state that Michael can still offer the property for sale, as long as the deal gets sealed before the foreclosure is wrapped up.

Michael Jackson’s rep says that her earlier statement that “Michael was never in default of the loan” still stands.