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Investors buy 8 properties at foreclosure sale

Wed, Nov 14, 2012

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Investors bought eight of the 41 properties that sold in the El Paso County Public Trustee’s foreclosure sale Wednesday, Nov. 14. The rest were sold back to the lenders.

Rocky Mountain Metropolitan paid $164,546.88 for a 1,836-square-foot two story home built in 2000 at 10040 Litchfield St. (Peyton, 80831). That was just $50 more than lender MetLife Home Loans initial bid. Aubrey and Marcia Billingsley borrowed $170,000 on the property in February 2003. The El Paso County Assessor estimates the market value at $230,306.

Rimwood paid $60,000 for an 864-square-foot tri-level house built in 1970 at 2248 Whitewood Drive (80910). That was more than lender Wells Fargo’s initial bid of $53,100. Matthew McKinley borrowed $124,200 on the property in March 2005. The El Paso County Assessor estimate’s the property’s market value at $106,130.

All In Investments paid $177,000 for a 2,124-square-foot two-story home built in 2001 at 7418 Willowind Drive (80922). That was more than lender Citimortgage’s initial bid of $169,735.14. David and Laurie Harris borrowed $179,200 on the property in December 2001. The El Paso County Assessor estimates the property’s market value at $253,182.

GAO paid $52,050 for two 881-square-foot condominiums at 4C and 5A 3110 E. Bijou St. built in 1964. That was just $50 more than lender U.S. Bank’s initial bid. T.L.B. Properties borrowed $225,400 on the condos in August 2003. The El Paso County Assessor estimates the value of each of the two properties is $55,330.

GAO paid $29,200 for unit 4B, another 881-square-foot condominium at 3110 E. Bijou St. That was more than U.S. Bank’s initial bid of $24,700. Terrence and Betsy Burch borrowed $111,300 on the property in September 2003. The El Paso County Assessor estimates the property’s market value at $56,324.

Necessity Homes paid $70,000 for a 1,292-square-foot townhome built in 2005 at 10515 Country Park Pt. (Fountain, 80817). That was more than lender Colorado Housing and Finance Authority’s initial bid of $68,742. Kevin and Amy Reinhold borrowed $145,216 on the property in October 2005. The El Paso County Assessor estimates the market value of the home at $120,736.

All In Investments paid $153,500 for a 1,975-square-foot two-story house built in 2002 at 7225 Heron Gulf View (80922). That was more than lender Bank of America’s initial bid of $141,008. Tonya Haurt borrowed $195,787 on the property in March 2003. The El Paso County Assessor estimates the home’s market value at $207,542.

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