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Jackson To Keep Encino Home

Christina Heller

Story Created: Apr 28, 2008 at 2:51 PM PDT

Story Updated: Apr 28, 2008 at 7:08 PM PDT

Michael Jackson has come up with the money needed to save his Los Angeles home. Jackson needed more than $400,000 to stop his Encino residence from being sold at a public auction. Last month, Jackson nearly lost Neverland Ranch to the same fate. But managed to temporarily save it by refinancing the property. Fortress Investment Group originally loaned him the $300 million needed to pay off his debts but, has threatened to sell the Santa Barbara County property at an upcoming auction next month. A public auction has been scheduled for May 14th at the Santa Barbara Superior Courthouse, and some web-based reports say "vultures are circling with cashier's checks."
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