Michael Jackson is in deep trouble on December 20.

We all know Michael Jackson is in financial peril. There were some stories published this week that echoed what this column has been saying for four years.

On Dec. 20, Jackson's $270 million worth of loans are due. It would seem simple: Pay up or be foreclosed on. Regular Americans go through this all the time.

Jackson is not a regular person, so there are many twists and turns in his story.

For one thing, Jackson has been in violation of his agreement with Fortress Investments since July. He's made no payments on the loans, which include an $18 million lien against Jackson's Neverland Ranch, that the company bought from Bank of America in April. One of the loans is for $200 million and is secured by the singer's half-interest in Sony/ATV Music Publishing.

The $70 million loan, which carries the lien, is secured by Jackson's own publishing company, MiJac, which includes his own hits and some of other artists, including Sly Stone. . . . . .Full Story