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WDKX.com » Blog » No Foreclosure For MiJac!

Mar 13th 2008 8:33 pm

No Foreclosure For MiJac!

by Gossip

Pop/R&B superstar Michael Jackson has refinanced Neverland ranch in time to save his famed California spread from a public auction that was scheduled for later this month.

The California estate was scheduled to be sold off if Jackson failed to pay $24.5 million he owed in property taxes by March 19.

Jackson attorney L. Londell McMillan told The Associated Press on Thursday that the pop star has worked out an agreement with Fortress Investment Group, LLC. The deal allows him to retain ownership of the famed property in Los Olivos.

Jackson's lawyer, L. Londell McMillan says, "Neverland and M.J. are fine."

Details of the agreement with the Fortress Investment Group are confidential.