Denver's Public Trustee is looking for former homeowners who lost their homes to foreclosure.

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Denver’s Public Trustee is looking for former homeowners who lost their homes to foreclosure.

Denver’s Public Trustee is looking for former homeowners who lost their homes to foreclosure.

9NewsNBC-

The Trustees office has over $1 million to return to former Denver homeowners whose houses sold for more money than was owed to lenders. The money comes from proceeds at foreclosure auctions above the amount owed to lenders by former homeowners.

If a house was sold to a third-party investor at The Denver Public Trustee’s auction, it is possible that the winning bid was for more than what the homeowner owed. This is called an “overbid” which results in excess funds. By Colorado statute, excess funds must be distributed.

The Denver Clerk’s office has amounts from overbids that range from $25 to over $240,000 for over 50 people. Overbids are happening primarily because of Colorado’s booming real estate market.

[9NEWS NBC]

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