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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 858-205-9131.

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 858-205-9131 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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$451,500

8550 Rosada, El Cajon

Beautiful home surrounded by mountains with panoramic views. Walk into the spacious living room w/fireplace. Recently updated, this home features a large back yard, swimm...

  • Beds3
  • Baths2.0
  • MLS160006593

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$659,900

14884 Quail Valley Way, El Cajon

Spacious home in Blossom Valley with Pool and covered RV Parking! Horse Paddock and tack room. Completely fenced and gated with peaceful views near trails. Corner Firepl...

  • Beds4
  • Baths3.0
  • MLS160006563

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$405,600

9505 Gregory, La Mesa

BEING SOLD AS-IS. Located in a desirable La Mesa community. Close to schools. Nice family neighborhood. This is a fixer. Perfect for an investor. Pool needs to be resu...

  • Beds3
  • Baths2.0
  • MLS160006377

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$240,000

1380 Washington Unit #21, El Cajon

Spacious Corsica 2-story townhome. Two bedrooms and two full bathrooms upstairs. Half bath downstairs. Fireplace in livingroom. Ceiling fan in dining room. Private patio....

  • Beds2
  • Baths3.0
  • MLS160005835
  • Bldg.Corsica

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$239,900

5010 Los Morros Way Unit ##25, Oceanside

New To the Market-Wonderful top floor unit in the gated community of Stonemark. This home offers a large living room, dining area, two bedrooms, two baths and a one car g...

  • Beds2
  • Baths2.0
  • MLS160005792
  • Bldg.Stonemark

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$351,920

23816 Oak Meadow Dr, Ramona

“SOLD WITHOUT REPAIR OR WARRANTY” List price may not be the minimum acceptable bid at the start of the auction”.

  • Beds3
  • Baths2.0
  • MLS160005688

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$290,000

1623 El Prado Ave, Lemon Grove

Light fixer property with great potential neighborhood views from the rear of property. Quiet well maintained street. Close to Freeways and shopping. Priced to sell. Prop...

  • Beds3
  • Baths2.0
  • MLS160005602

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$369,000

5765 Friars Road Unit #144, Old Town

Opportunity knocks with this fantastic Fashion Valley single level 2 br/2 bath condo in the luxury complex Presidio Place. Amazingly bright ground-level unit faces south...

  • Beds2
  • Baths2.0
  • MLS160005277
  • Bldg.Presidio Place

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$399,900

4610 68th, La Mesa

Corporate Owned Opportunity! Home sits back off the street with nice sized front yard and large pool sized backyard - 13,939sf lot! Plenty of space for extra parking or R...

  • Beds3
  • Baths2.0
  • MLS160005152

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$400,000

749 Sherwood Dr, Oceanside

Exterior showings only. Single level home with 4 bedrooms and attached 2 car garage. Subject to auction terms.

  • Beds4
  • Baths2.0
  • MLS160005132

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$475,000

2985 Burnet Drive, Escondido

Exterior showings only. Large 4 bedroom home in Eureka Springs. Subject to auction terms.

  • Beds4
  • Baths3.0
  • MLS160005127

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$510,000

1661 Boulder Creek Rd, Oceanside

Exterior showings only. 4 bedroom home in Guajome Mesa. Subject to auction terms.

  • Beds4
  • Baths3.0
  • MLS160005109

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$369,900

1238 Aristotle Gln, Escondido

This SFR is a detached home, with 3 bedrooms upstairs! 1/2 bath downstairs. Larger model at over 1,600 square feet. Private backyard. Community pool / spa / small pond...

  • Beds3
  • Baths3.0
  • MLS160005101
  • Bldg.Le Chateau Heritage

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$209,900

15817 Davis Cup Lane, Ramona

Located in beautiful San Diego County Estates with golf course, swimming pool, clubhouse, tennis courts. Great top rated schools. View Deck, walk to nearby park. Vaulte...

  • Beds2
  • Baths2.0
  • MLS160004953
  • Bldg.Davis Cup

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$239,900

6821 Panamint Row Unit #3, Paradise Hills

Cute 3 bedroom 2 bath Southbay townhome! 2 stories with all bedrooms and baths upstairs. Plenty of room on the patio for that spring BBQ. Close to Zamorano Fine Arts Acad...

  • Beds3
  • Baths2.0
  • MLS160004905
  • Bldg.Southbay Townhomes

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2016 Sandicor®, Inc.

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