Michael Jackson's Neverland Ranch head for foreclosure

The Mortgage Lender Implode-o-Meter has obtained a "Notice of Default and Election to Sell" for Michael Jackson's Neverland Ranch .

According to TMZ, that makes it clear that the property is in foreclosure, because the loan and interest in the amount of $23,212,963.83 is overdue. The notice specifically states that "a breach of, and default in, the obligations for which the Trust Deed is security -- has occurred" -- because payment hasn't been made.

DISCLAIMER: This posting was submitted by a user of the site not from The Insider editorial staff. All users have acknowledged and agreed that the submission of their story and its contents is in compliance with our Terms of Use.