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Is it true this time? As of the moment, it appears that the rumors are true. According to reports, paramedics were called to the pop star’s home at 12:26pm, June 25, and found Michael Jackson without respiration. After administering CPR, he was immediately brought to the Ronald Reagan UCLA Medical Center.

He arrived in deep coma at the hospital and at 2:26 pm, he was pronounced dead by physicians. Apparently, the King of Pop suffered cardiac arrest. At the time of his death, he had been staying in Los Angeles for the past 2 months practicing for a series of concerts in London scheduled to start on 13 July 2009 until March 2010. The series of concerts were expected to earn Jackson enough money to get him out of debt.

Despite the controversies surrounding the life of the revered pop star, including a child molestation case, Michael Jackson remains one of the most popular pop icons in the past decades. Fans have started flocking to his home to condole with the family.

As Michael Jackson’s empire started to crumble following his arrest in 2003 for child molestation, his famed Neverland Ranch has been scheduled for foreclosure and auction on 19 March 2009 due to his inability to service a US$24.5 million debt for years. Though the King of Pop has been in seclusion and hasn’t lived on the ranch for years after his arrest and acquittal, all efforts are still being made to save the property.

Fortunately, the valuable property was saved from foreclosure when an investment entity purchased the loan to give Jackson time to settle his debts. At the moment, keeping his property is now possible with his London concert tour sold out within hours upon availability. Despite the controversies and difficulties that Jackson has gone through, he is still undoubtedly one of the most famous celebrities of all time.

On related news about Jackson’s financial troubles, dispute about the auction of his personal items has now been brought to court. Jackson filed a lawsuit against Julien’s Auctions, claiming that he had never given permission to sell off many of his priceless and irreplaceable items. Darren Julien, the auction house president, fired back saying that it was the pop king’s representatives that came to them and claimed that the ranch was in shambles when they visited it. Following the lawsuit, he even claimed that he has been receiving threats from Jackson’s camp should he decide to pursue the auction. Of course, Jackson’s lawyers denied the threats and claimed Julien’s statements were a ruse to gain the spotlight and divert attention to his misconduct. Even with the dispute, the personal items are currently on publicity tour while the auction is scheduled on 21 April 2009.

Included among those items that will be allegedly put on sale are Jackson’s glittery white glove and 1999 Rolls Royce. A conservative estimate of proceeds from the sale is between US$1.5-3 million.

After turning 50 a few months ago, rumor has it that the King of Pop, Michael Jackson, is in very critical health condition and may need a lung transplant.  Jackson’s biographer, Ian Halperin, revealed that Jackson is struggling with a genetic disease caled A1AD (alpha-1 anti-trysin deficiency) where the affected person lacks a certain protein that protects the lungs.

Halperin claims that the pop idol also has emphysema and chronic gastrointestinal bleeding which doctors have difficulty controlling.  Jackson allegedly even has trouble speaking.  And to make matters worse, Halperin claims that 95% of Jackson’s vision in his left eye is already gone.

Though there has been no confirmation on the report, it was notable that Jermaine Jackson, Michael’s brother, commented that his little brother is not doing so well when asked about the situation.

Whether it is true or not, hope things get better.  Michael Jackson has lived an extraordinary difficult life despite the fame and the affluence.