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Investors buy three foreclosures

Wed, Apr 18, 2012

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Investors bought three of the 50 properties that sold in the El Paso County Public Trustee’s foreclosure auction on Wednesday. The other properties were returned to the lenders.

Rocky Mountain Metropolitan paid $186,500 for a 1,480-square-foot two-story house built in 1995 at 8011 Ferncliff Dr. (80920). That was well over lender Wells Fargo Bank’s initial bid of $152,295.90. Mark and Jill McGuffin borrowed $160,800 on the home in December of 2002. The El Paso County Assessor estimates the market value of the home at $223,718.

Jodi Pinell paid $116,854.86 for a 1,330-square-foot two-story home built in 1999 at 5647 Preminger Dr. (80911). That was just $50 over lender Colorado Housing and Finance Authority’s initial bid of $116,804.86. Carmela and Hiram Church borrowed $126,033 on the property in September of 1999. The El Paso County Assessor estimates the market value of the home at $167,660.

Integrity Bank and Trust as Trustee for David L. Brown SEP IRA paid $199,700 for a 2,400-square-foot two-story home built in 1987 at 8720 Aragon Dr. (80920). That was just a little more than $350 over lender Bank of America’s initial bid of $199,326.72. David and Lisa Harding borrowed $200,000 on the property in December of 2004. The El Paso County Assessor estimates the market value of the home at $276,050.

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