Jackson’s former advisers refinanced the loan in 2006, spokeswoman Raymone K. Bain said in a statement Thursday. The loan matured last month, and now he’s refinancing again.
“Mr. Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch,” Bain said.
A notice from a San Francisco title default company suggested that Jackson’s ownership of the ranch could be at risk.
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 on a $23 million loan.
The singer no longer lives at the 2,500-acre spread in Los Olivos, a popular tourist spot northwest of Santa Barbara known for its wineries.
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