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Michael Jackson’s Neverland Saved From Foreclosure
By kevin | May 12, 2008
The famous Neverland Ranch, of the entertainer Michael Jackson, was saved from a foreclosure sale set for this week after a loan on the California property was sold to a large real estate investment firm called Colony Capital. Michael said the loan is about $23.5 million and it had been held by Fortress Investment Group. The Neverland Ranch located on Santa Barbara County was slated to be auctioned off on Wednesday after the Pop Star defaulted on loan payments.
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