Michael Jackson perhaps may not lose ‘Neverland’
Posted on November 10th, 2007 by Hot Momma
Michael Jackson is in no danger of losing his Neverland ranch due to debt, his spokeswoman has said.
She denied reports that the pop star had defaulted on a $23m loan on the California ranch, saying he was in the process of refinancing the building.
The denial comes after the ranch containing amusement park rides and a zoo, was spotted on a Santa Barbara County foreclosure report this week.
Jackson left the ranch when acquitted of child abuse in 2005. In August, finance firm Prescient Acquisition said he had debts of $272.5m.
“Mr Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch,” his spokeswoman Raymone Bain said. Personally, I want to know what Bank is going to finance this loan to make sure I don’t have any money invested with them.
Earlier this month, he told US magazine Ebony that he was now living somewhere on the east coast.
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