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Two properties sell at foreclosure auction

Thu, Aug 11, 2011

News

Two of the 33 properties sold at the El Paso County Public Trustee’s foreclosure auction Wednesday sold to investors.

All In Investments purchased a property at 5340 Fossil Butte in the 80918 zip code for $176,219, which was just $50 over the initial bid of $176,169 made by lender Wells Fargo.

Wells Fargo declared a deficiency on the property of almost $123,000.

The other property that sold to an investor sold to a New Design for Living, which purchased 1816 Harley Lane in the 80916 zip code. The investor paid $57,650.

The lender, Nationwide Advantage Mortgage Company, declared more than a $112,000 deficiency on the property.

The remaining 31 properties that sold at auction reverted to the lenders as no one bid to buy them.

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