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Foreclosure

For some, it is a word that conveys the fear and dread of financial ruin, while for others it infers a positive economic opportunity. Regardless of the perspective, it is possibly the most misunderstood aspect of any real estate market.

Buying Foreclosures

Buying directly from the bank is preferred by many because it is a more methodical, predictable and non-emotional process than buying from the distressed seller.

Not all REOs are good deals. Many banks want market value in order to recoup as much of their losses as possible. Others are more concerned with liquidating their REO inventory as these non-performing assets have a negative impact on their books. We have relationships with  asset managers and REO officers, so knowing which lenders are motivated sellers and which properties represent a bargain is where we come in.

If you’re an investor or buyer looking for lender owned value-priced properties, fill out the contact form on the right or give us a call at 858-382-5820.

Facing Foreclosure

If you are an owner of California real estate that would like to know what options you may have in avoiding foreclosure or walking away from the mortgage, fill out the contact form on the right or contact us at 858-382-5820 to schedule a confidential consultation.

The foreclosure process begins when the lender files a Notice of Default, or NOD, with the County Recorder once a borrower defaults on their loan.  The process ends when:

Within the grace period determined by state law (pre-foreclosure), the borrower pays the default amount and reinstates the loan, or

The property is sold during the pre-foreclosure time period, allowing the borrower to pay off the loan. A situation where the loan is greater than the sale amount, but the lender agrees to a loan pay off that is less than what is owed is referred to as a short sale, or short pay. Or,

At the end of the pre-foreclosure period, a trustee sale occurs and the property is sold at a public auction to a third party, or

The lender takes ownership of the property through an agreement with the borrower during the pre-foreclosure time period, or buys the property at the trustee sale. The bank-owned property is referred to as real estate owned, or REO.

Newest San Diego Foreclosures

7464 Great S Overland, Julian

$43,900

Fix and Save. This home has huge potential. Great Getaway from the busy city. Needs Paint, Carpet, mild electrical work, and well repair. Bids for well are between 5-6K. ...

Beds 2

Baths 2

32106 Cerrada Del Coyote, Vista

$274,900

Bank Owned Opportunity!! Don't wait this home is priced to sell. Wonderful 2 bedroom 2 bath Ranch Style. This home offers a beautful kitchen , large living room & family...

Beds 2

Baths 2

10197 Fairhill, Spring Valley

$346,700

FannieMae HomePath property. Eligible for HomePath/HomePath Renovation financing. Spring Valley charmer in desirable Stone Point neighborhood. Home is upgraded with large...

Beds 4

Baths 3

11047 Via San Marco, Rancho Penasquitos

$149,900

Reo bank owned! Great buy for first time home buyer. Light & bright - lots of windows! Close to shopping center, movie theater, restaurants, I-15 & I-56.

Beds 2

Baths 1

9556 Cypress, Lakeside

$187,500

Country style 3BR/2BA home with huge raised porch in front. Unique family room with beamed ceiling and cozy stone fireplace with mantle. FR opens to deck. Separate dining...

Beds 3

Baths 2

3902 Vista Campana, Oceanside

$150,000

Senior community in oceana. Single story. Close to shopping and golf course. Nice patio and attached garage.

Beds 2

Baths 2

1465 Trouville, Chula Vista

$249,900

Bank owned condo 3 bed/2.5 Bath in desirable otay ranch complex. Maple cabinets, new carpet and paint. Walking distance to schools. Property being sold as is.

Beds 3

Baths 3

806 Washington, Escondido

$125,000

REO property is being sold "AS IS". Your new home is far enough from E. Washington St to be very quiet, Home faces a beautiful garden like common area. close to pool are...

Beds 2

Baths 2

741 Coleman, Otay Mesa

$239,900

Bank Owned 4 bedroom 2 bathroom single story home boasting wonderful curb appeal. This home needs TLC, and is perect for a handyman/investor! Oversized lot, priced to sel...

Beds 4

Baths 2

1001 S Hale Ave, Escondido

$50,000

Cal-vet repo foreclosure. Newer home. Great condition. Sold-as-is. Extra room could be 3rd bedroom, needs a closet and entry door. Size is 11.7 X 54 and 11.7 X 60. One s...

Beds 3

Baths 2

500 Harbor, Downtown

$470,000

Great floor plan. A place to relax. Nice kitchen. Spacious living room with great views. Big Master bedroom with walk-in closet. Secondary bedroom with hardwood floor...

Beds 2

Baths 2

328 Woodmeadow, Ramona

$332,000

*** CUSTOM 4 BEDROOM HOME WITH AMAZING PANORAMIC VIEWS!!! *** This Private, Secluded Ramona Home Is Perched Perfectly On Top Of A Picture Perfect Hilltop! The Spacious ...

Beds 4

Baths 3

121 Orange Ave, Chula Vista

$104,900

SPACE #102. JUST LIKE NEW! This home is only about a year old. Lender/Seller foreclosed on previous owner. Spacious 3/2. Comes with all kitchen appliances. Freshly painte...

Beds 3

Baths 2

514 Tag, Ramona

$334,900

This is a Great Home in a Great Neighborhood. Close to town & schools. A Must See. Bring in your Offers Today!

Beds 3

Baths 2

18218 Paradise Mountain Road, Valley Center

$69,500

UPDATE 1/18/10: PRICE MARKED DOWN FOR THE FINAL TIME, ADDITIONAL $20K REDUCTION, MUST SELL!!! This home has been marked down an additional $30,000 and must move now! U...

Beds 3

Baths 2