Jacko’s ownership of Neverland ranch not in jeopardyNovember 14th, 2007 - 10:23 am ICT by admin
Raymone K. Bain says that Jackson’s former advisers refinanced the loan in 2006, which matured last month.
She said that the singer was refinancing the loan again.
” Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch,” the New York Daily News quoted Bain as saying in a statement.
A San Francisco title default company recently made public a notice that suggested that Jackson was about to lose his property because of his failure to repay the loan.
Posted on the Web site of KSBY-TV, the notice from Alliance Default Services said that as of Oct.12, Jackson owed 23,212,963 dollars to his creditors on a 23 million-dollar loan.
The property is spread on 2,500 acres of land in Los Olivos, a popular tourist spot northwest of Santa Barbara known for its wineries. (ANI)
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