Annie Leibovitz's Loan Deadline Extended

Annie Leibovitz will not lose her homes or the rights to her photography profile.

The Vanity Fair photographer is getting an extension on her $24 million loan.

Leibovitz took out the loan from Art Capital Group last September when she fell on financially hard times.

The loan's deadline was Tuesday, but Leibovitz and Art Capital Group came to an agreement. Neither side has said how long the extension will last.

If Leibovitz fails to pay back the loan, she will lose her portfolio worth $40 million and her New York properties worth about $40 million.

Leibovitz's work has been featured in Vanity Fair, Vogue, and Rolling Stone magazine, and she has photographed such celebrities as Demi Moore, John Lennon, and Meryl Streep.

Leibovitz attracted controversy last year for her photo spread of Miley Cyrus in Vanity Fair.