Michael Jackson

R&B/Pop king Michael Jackson will lose his Neverland Ranch in January if he fails to pay a $23 million loan, according to reports. Jackson is on the brink of seeing his infamous home being sold, after being given 90 days to meet a final demand on the huge debt. The Fortress Trust, an investment company, is understood to have issued the ultimatum, which expires on January 19. Although Jackson is said to be nearing agreement with Sony/ATV Music Publishing about a financial deal, this is not thought to involve Neverland. It is reported that Jackson is currently residing in a rented property in Washington.