Michael Jackson’s ranch safe, rep says

But could Neverland still be at risk?

A spokesperson for Michael Jackson issued a statement today (November 9) saying his Neverland Ranch is safe after reports indicated that he could be in danger of losing his California property.

The pop star’s spokesperson said that he refinanced his Neverland loan in 2006 and is in the process of doing it again, reports the Associated Press.

“Mr. Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch,” Raymone K. Bain said.

However, a notice from Alliance Default Services in San Francisco indicates that Jackson’s home could still be in jeopardy because he owes $23,212,963 on a $23 million loan.

–By our Los Angeles staff.

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