Michael Jackson isn't losing his house just yet

9

November

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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