Receive San Diego Foreclosure Properties Daily
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 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.
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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rare 3Br 2 BA unit in Liberty Manor. Close to I-5 and only minutes from downtown San Diego and the border crossing. Quiet location.
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5 bedroom, 4 bath home with office and 1 bedroom and bath on the main level. Kitchen features granite counters, center island and stainless appliances. Master bath featur...
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Good as new! 3Bed 2 Bath home features great layout, spacious kitchen and attached 2 Car garage. Enjoy the back yard with patio on a quiet cul-de-sac street. Enjoy all t...
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Top floor unit in the complex of La Mirianda. Interior of unit features neutral colors with a large master bedroom and walk in closet! Close to the I-8, shopping, trolley...
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Gated and fenced 3 bedroom / 2 bath home located on a 33,106 square foot lot. Located on Highway 76 and conveniently close to Pala Casino and the 15 freeway, makes this ...
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