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Michael Jackson isn't losing his house just yet



Tbdmichaeljackson111207 Who said Michael Jackson could lose Neverland ranch? Surely not us. Oh, wait. Anyway, Jackson spokeswoman Raymone Bain said Friday that reports the pop freak defaulted on a $23.2-million loan for the home have been greatly exaggerated, AFP reports.

“Contrary to published reports, Mr. Jackson was never in default of the loan,” she said in a statement. “Mr. Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch.” TMZ had pointed out Neverland was put as collateral on a $23-million loan he took out in March 2006. And you thoughtyou were upside down on your mortgage ...

[Photo: Getty Images]

[Last modified: Tuesday, May 25, 2010 9:26am]


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