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Investors buy five properties at foreclosure auction

Thu, Jul 19, 2012

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Investors bought five of the 28 properties that sold in the El Paso County Public Trustee’s foreclosure auction July 18. The rest sold to original lenders.

IDP Capital paid $110,356 for a 1,370-square-foot split-level house built in 1986 at 4525 Cassidy St. (80911). Lender Bank of America made an initial bid of $105,756. Michael and Tamara Stombaugh borrowed $173,348 on the property in April of 2006. The El Paso County Assessor estimates the market value of the house at $152,150.

City Lights paid $139,737 for a 1,866-square-foot split-level house built in 2000 at 1347 Hollow Rock Drive (80911). That was $50 more than lender Citi Mortgage’s initial bid. Stephen and Lisa Prejean borrowed $166,673 on the property in August of 2003. The El Paso County Assessor estimates the market value at $164,264.

Krumanocker paid $127,500 for a 1,848-square-foot bi-level home built in 1981 at 2619 Zephyr Drive (80920). Lender Deutsche Bank made an initial bid of $115,981.86. John White and Rachel Garcia borrowed $160,800 on the property in December of 2005. The El Paso County Assessor estimates the market value at $189,790.

HOA Solutions paid $48,100 for a 612-square-foot ranch home built in 1894 at 418 S. Prospect St. (80903). Melvin Davis borrowed $112,000 on the property in August of 2007. The El Paso County Assessor estimates the value at $85,286.

IDP Capital paid $115,050 for a 1,044-square-foot ranch home built in 1973 at 2425 Ranch Lane (80918). Lender FV-I made an initial bid of $110,000. Michael Bobillo borrowed $132,000 in September of 2006. The El Paso County Assessor estimates the market value at $165,579.

 

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