PALM SPRINGS, Calif. - For decades, the "Elvis House" attracted fans from all over, but, for the past six months, it's been all chained up. Not anymore.
"I want to fix that section of the house and fix over here," Randy Racevic said.
Raicevic is the owner of the Elvis Estate, after the Superior Court in Indio's July 22nd ruling gave Financial Bonanza LLC ownership of the home.
Back in 2006, Reno Fontana and Lorie Whittier bought the 5100 square foot estate on Chino Canyon Drive, with help from private lender Raicevic and investing company Financial Bonanza.
"They've been able to live in the house for six plus months without paying anything. Filed multiple bankruptcies, filed this frivolous action, which we're finally able to defeat by way of judgment last Friday," attorney on the case Michael Rubin said.
The investment company said Fontana didn't pay his loan. Back in February, Fontana told us he did. One thing's for sure -- Fontana got evicted this past January.
"They had the cow, that didn't belong to them. They were able to milk it meaning they ha control, they were doing tours, making money on it but not paying the mortgage or paying my clients who lent them the money to buy the property," Rubin said.
The final decision from the five-day trial clears title and enables the property owners to move forward with plans to improve the property.
This all poses the big question -- will the home open back up to Elvis fans?
"I plan to open in October for tourists. Just a couple more months," Raicevic aid.
Raicevic said he'll spend the next few months getting it ready for tours and events to start again. Great news for Elvis fans, but according to Raicevic's attorney, "I understand he is also going to be appealing. He has thrtaed to do that. His likllihood of winning an appeal is zero."
We talked to Fontana on the phone -- he's out of town and says he'll have more to say next week.