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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

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$169,600

318 33rd, Logan Heights

Drive by only. Please do not disturb occupants. Freddie mac/homesteps foreclosure. Great investment property.

  • Beds
  • Baths

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$169,900

9909 Azuaga #C104, Rancho Penasquitos

Great first home in the Award winning Poway School District. Stainless appliances. Community pool, tennis, and more. Close to all. Easy freeway access. Days 1-7: Off...

  • Beds 2
  • Baths 1
  • Bldg. Cantabria

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$310,500

5219 Monet, Bonia

You can live in Bonita! This home is perfect for the first time buyer who loves to entertain. Walking distance to some of the most beautiful trails in San Diego. The h...

  • Beds 3
  • Baths 2

$279,900

1012 San Bernardino, Spring Valley

None

  • Beds 3
  • Baths 3

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$159,900

9821 Caspi Gardens #3, Santee

BANK OWNED FORECLOSURE!! Not a short sale! 3 Bedroom / 2 Bath End Unit Condo!! Features Fireplace in the Living Room and Good Sized Bedrooms. Just Completed a Freshly Pai...

  • Beds 3
  • Baths 2
  • Bldg. Riderwood Gardens

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$165,900

800 Sea Cliff #807, Oceanside

This one has it all!!!Private lot, picturesque setting, pool, sof t natural light!!This adorable Mediterranean style condo is in top notch condition!! Nicely remodeled un...

  • Beds 1
  • Baths 1
  • Bldg. The Bluffs

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$139,900

801 National City #916, National City

Fully furnished condo in the beautiful Bayview Tower. Granite countertops in kitchen and bathroom. Enjoy panoramic mountain views from your large master bedroom balcony. ...

  • Beds 1
  • Baths 1
  • Bldg. Bay View Towers

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$149,900

527 Mollison, El Cajon

This is Fannie Mae HomePath property. This property is approved for HomePath Mortgage Financing. Fantastic opportunity for first time home owner to purchase this two stor...

  • Beds 3
  • Baths 2
  • Bldg. Mark Manor

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$320,000

2466 Palace, Mission Valley

Great potential, single story 4BR/2.5BA home w private built-in pool in fenced backyard. Gorgeous kitchen with newer fixtures, maple cabinets, stainless steel appliances,...

  • Beds 4
  • Baths 3

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$72,900

4212 48th #9, Talmadge/San Diego Central

Upgraded upstairs unit! PLEASE SEE CFR FOR OFFER INSTRUCTIONS. Features granite counters, fireplace, breakfast bar, tile floors and walk-in closet. Please see pictures. I...

  • Beds 1
  • Baths 1
  • Bldg. City Courtyards I

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$299,900

1560 Westmorland, Chula Vista

Nice 3 bedroom, 2.5 bath home in Otay Ranch. Open floor plan downstairs with hardwood flooring. In addition to the 3 bedrooms there is a great loft area. 2 car attached g...

  • Beds 3
  • Baths 3

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$369,900

12413 Gay Rio, Lakeside

This move in ready grand and spacious view home features 5 bedrooms, 4.5 baths, updated kitchen, laminate bamboo & tile floors, french doors, mirrored closet doors, recen...

  • Beds 5
  • Baths 5

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$349,900

29760 Miller, Valley Center

Bank owned property. New carpet and paint. On large lot. Single story home.

  • Beds 4
  • Baths 3

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$244,330

1121 Osage, Spring Valley

Foreclosure...3 Bedroom 1 1/2 bath house in spring valley. This house is spacious and has a large back yard. It has a living room and a family room, separate dining room,...

  • Beds 3
  • Baths 2

$890,000

10913 Breckenridge, Scripps Ranch

Lovely home with fantastic view all the way to the coast! Well appointed and upgraded Traviata plan 3. Custom paint & Crown Moulding throughout. Fresh landscaping (don't ...

  • Beds 5
  • Baths 3

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