The land is probably worth over 5 times the amount of debt. If I am a loan shark I would be more than happy to lend one or two more millions - and wish he could't pay back.

By the way, the lighting that a witch is flying toward in the picture above looks like an incandescent bulb -- it could burn the witch and the owner's pocket. LED lamps or energy-saver bulbs are very cheap compare to electricity bills. And it seems that insects don't get attracted to LED much. ;-)