The foreclosure auction for Michael Jackson’s Nerverland Ranch that was scheduled for this week was canceled after an investment company called Colony Capital LLC. bought the loan. Jackson hasn’t lived on the property for the past two years and is happy at the way things turned out. He recently had to go into default on the $24.5 million that he owes on the property and has struggled to pay his debts after his decline in finances after his arrest in 2003 on child molestation charges where he was later acquitted.

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