Real Estate

Rapper Chamillionaire now faces foreclosure on his Houston, Texas mansion. According to the rapper, he has chosen foreclosure, and it does not mean that he is out of money. Chamillionaire claims that, he decided to foreclose his home because of the slumping real estate market. In short, it was just a “business decision.”

Chamillionaire recently said, “I was always on the road touring. I just didn’t feel like it was a good business investment to pay that much mortgage for a house I was never at.” The rapper refutes claims that he is out of money saying, “I still got the cars.” Chamillionaire is not the only star that has faced financial troubles.

Find more breaking celebrity news including celebrity foreclosure, recent Hollywood divorces, and celebrity bankruptcy at CelebLegalIssues.com.

In attempts to turn his 6,000 acre New Mexico ranch into a bed and breakfast, Actor Val Kilmer is running into problems as his neighbors adamantly protest against his permit request. During his public hearing to apply for the permit, his fellow Santa Fe area residents appeared and demanded an apology for Kilmer’s rude remarks in past magazine interviews. These comments appeared in a 2003 interview with Rolling Stone and pertained particularly to the county locals as he called his neighborhood “the homicide capital of the Southwest” and that “80 percent of the people in my county are drunk.”

Outraged with his comments, Kilmer’s neighbors refuse to grant him the privilege of changing his residential ranch to be used commercially. A sticky situation like this should be handled through a proper law firm familiar with real estate litigation and commercial contracting. Aside from talking about the locals, Kilmer also made a harsh comment about understanding how to play a role of a Vietnam veteran better than an actual veteran that fought in the war. Two years ago, Esquire quoted Kilmer calling soldiers “borderline criminals or poor … wretched kids” who only served in the military because they “got beat up by their dads” or “couldn’t finagle a scholarship.”

Kilmer later said he was misquoted both times. However in response to Kilmer denying his derogatory remarks about Veitnam vets, Esquire Editor-in-Chief, David Granger, confirms that the quotes are indeed accurate. “The interview was recorded and every quote used in the story was checked by our research department to insure that it was printed precisely as spoken,” says the Editor.

Interesting enough,  New Mexico ACLU offered to represent Val Kilmer despite his rowdy neighbors. The ACLU argued that whether or not he had actually insulted his county and its residents, he had every right to do so without fear that his permits would be held hostage. For more assistance concerning his permits, Val Kilmer should consult with experienced real estate lawyers.

Commissioners reviewing the permit requests, including Chairman David Salazar, invited Kilmer to appear Wednesday and explain the comments published years ago in Rolling Stone and Esquire magazines. Salazar told the Wall Street Journal that according to law, Kilmer’s application will be reviewed aside from the controversy. In today’s ongoing hearing in San Miguel County, N.M., The Associated Press says that Kilmer still hopes for good to come out of the meeting despite his disparaging comments.

Thousands of Michael Jackson news stories have surfaced this week.

Custody of Michael Jackson’s Children

Earlier in the week a judge granted child custody to Michael Jackson’s mom, Katherine Jackson. Jackson’s ex-wife, Debbie Rowe, who is the mother of two of his three children, is deciding whether or not she is going to pursue custody of Jackson’s children. Rowe received a delay on the custody issue from a judge. I saw on the cover of a well-known newspaper that she is seriously going to try to win custody.

Michael Jackson’s Will

Earlier in the week it was reported that Janet Jackson, Michael Jackson’s sister, was the executor of his estate. There will be a court hearing on Monday regarding the distribution of Jackson’s assets. Jackson purposely left Rowe out of his will. Supposedly the Jackson estate has loads of debt. I am sure Jackson’s family law attorney has his hands full with the custody battle and filing the will in probate.

Neverland Ranch – Michael Jackson’s Former Home

Michael Jackson’s Neverland Ranch was his pride and joy for many years until he was accused of molesting a boy there a few years ago. I caught some stunning photos of Neverland ranch the other day. It’s actual address is 5225 Figueroa Mountain Boulevard in Los Olivos, CA 93441. Neverland was saved from foreclosure last year, and five years ago was said to have been worth approximately $120 Million. However, there have been different values for the ranch in a variety of news articles. If you are looking to see what the local real estate is in Los Olivos, go to realtor.com to search for Los Olivos homes. I am sure the price of homes in Los Olivos have come down substantially.
Jackson’s Memorial Service and Burial

Jermaine Jackson said the other day that his brother update wanted to be buried at Neverland Ranch. However, California burial statutes say that burials can only be in cemeteries in California. They were going to have a memorial service on Thursday at Neverland Ranch but that was stopped. Instead, Jackson’s memorial service will be Tuesday at the Staples Center in California. I found a handy map in Google Maps for the Staples Center.

Did Michael Jackson’s Doctors mess up?

The answer to this question is maybe. The DEA is looking into fraudulent prescription meds that Jackson was taking at the time of his death. There were also cases of Jackson receiving meds under a few aliases. Wonder if there will be a case of wrongful death or medical malpractice?

Hollywood legend Ed McMahon, 86, died today from bone cancer. Ed McMahon is best known for his 30 year service on The Tonight Show with Johnny Carson.

Two years ago McMahon had a broken neck injury. Since he wasn’t able to work, he faced foreclosure on his home. However, at the end of 2008 he was given permission to stay in house.

Sad day in Hollywood (or should we say night).

What’s going on in celebrity real estate this week is nothing less than jaw dropping? Nicole Richie purchased another property in Los Angeles paying $1.91 million for the 5,380 square-foot home. So what did she get for so much money? Her new home has four bedrooms, five and a half baths, a sky dome and an eat-in-kitchen. Some of the outdoor features include a lagoon pool and a guesthouse large enough to double as a theater. Sounds perfect until she acquires more stuff and has to move!