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Only one property sells at foreclosure auction

Thu, Sep 22, 2011

News

Only one of the 32 properties that sold in Wednesday’s foreclosure auction sold to an investor. The other 31 properties sold back to the lenders.

The house that sold was a 2,593-square foot two-story home built in 2005 at 12824 Angelina Drive in Peyton.

Service Investments purchased the home for $225,663, just $50 over lender US Bank National Association’s initial bid.

The final sale left a loan deficiency of $74,886.79.

Andy R. Kelly purchased the home in 2009 for $274,900, according to the El Paso County Assessor’s records. He financed the full amount, according to trustee records. The assessor lists the market value of the home at $271, 411.

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