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Investors buy 3 houses at foreclosure auction

Mon, Feb 20, 2012

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Investors bought three of 28 properties that sold at the El Paso County Public Trustee’s foreclosure auction on Feb. 15. The other 25 properties returned to the lenders.

IDP Capital purchased a 1,707-square foot bi-level home built in 1981 at 1830 Doherty R. (80916) for $99,000. That was slightly over lender Deutch Bank National Trust’s initial bid of $85,850. Angelica Carranza borrowed $132,000 on the property in July of 2006. The El Paso County Assessor lists the market value of the home at $134,712.

HO Investments, LLC and New Design Living, LLC bought a 894-square foot ranch home built in 1956 at 1007 Florence Ave. (80906) for $71,050. That was well over lender Bank of New York Mellon’s initial bid of $62,550. Ann Morin borrowed $106,223.59 on the property in November of 2006. The El Paso County Assessor estimates the market value of the home at $116,087.

Allan McMullen bought 963-square-foot split-level home built in 1982 at 2950 Mirage Dr. (80920) for $167,000. That was well over lender Bank of New York Mellon’s initial bid of $122,400. Erika Bobo borrowed $184,000 on the property in November of 2005. The assessor lists the market value of the home as $217,256.

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