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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 858-382-5820 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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$309,000

3518 Stockman Street, National City

Great location - near freeway - mall - parks & more. This 3 bedroom / 1 bath home features a formal living room, dining room and additional family room! Open floor plan....

  • Beds 3
  • Baths 1.0
  • MLS 140058961

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$264,900

6799 Cielo Drive, Encanto

Property is located on a nice corner lot with partial view of the Bay to the Ocean. Living room has vaulted ceilings. On site RV parking potential. Home has a ton of po...

  • Beds 3
  • Baths 2.0
  • MLS 140058924

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$159,900

29928 Mallard Drive, Campo

Charming country fixer-upper with many original features and some past updating and addition of family room and bath built without permits. Property features several out...

  • Beds 4
  • Baths 2.0
  • MLS 140058754

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$84,900

3308 San Rafael, Borrego

Over-sized lot with mature landscaping. House needs work but has tons of potential.

  • Beds 2
  • Baths 2.0
  • MLS 140058727
  • Bldg. N/A

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$350,000

San Carlos

Updated!! End unit with easy access and view of pool! New carpet, paint, appliances, and more! Tile floors, granite counters! Two parking spaces!Termite Clearance! Walk ...

  • Beds 3
  • Baths 2.0
  • MLS 140058708
  • Bldg. Brentwood

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$247,900

12741 Laurel St Unit #49, Lakeside

Lovely bright home, large open lay out townhome in gated community! Wood flooring throughout living area, tile in kitchen, and granite countertops. Traditional layout, li...

  • Beds 3
  • Baths 3.0
  • MLS 140058707
  • Bldg. Link Lakes

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$264,900

720 Brookstone Unit #202, Chula Vista

Fantastic single story condo in desirable Camelot community. Open and bright layout features 3 good size bedrooms,2 full bathrooms, a fireplace in the living room and mor...

  • Beds 3
  • Baths 2.0
  • MLS 140040801
  • Bldg. Camelot

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$489,000

1805 Grove Rd, El Cajon

3 bedroom, 2 bath with 1 bedroom and bath on the main level. Kitchen features plenty of cabinet space and center island. Other features include enclosed sunroom and floo...

  • Beds 3
  • Baths 2.0
  • MLS 140052036

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$374,000

10237 Rio Camino, Lakeside

Fantastic single story home in Lakeside. Newly remodeled with new paint inside and outside, new carpet, new roof, new patio cover and new appliances. Laminate floors in l...

  • Beds 3
  • Baths 2.0
  • MLS 140058347

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$329,900

1080 Park Blvd Unit #1217, Downtown

Wonderful opportunity to own in the desirable Smart Corner complex. This special loft unit is 863 square feet with upgraded flooring, granite kitchen counters and stainle...

  • Beds
  • Baths 1.0
  • MLS 140058233
  • Bldg. Smart Corner

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$398,700

13142 Currant Ct, Lakeside

Nice 3 bedroom, 2 bath home with fantastic view. Quiet cul-de-sac location in a highly sought after neighborhood, ceramic tile flooring throughout, fireplace in the famil...

  • Beds 3
  • Baths 2.0
  • MLS 140058034

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$340,400

13222 Mannen, Lakeside

A must see! Nice secluded Lakeside home located on a private street with mountain views. Freestanding fireplace in living room and ceiling fans throughout the home. Back...

  • Beds 2
  • Baths 2.0
  • MLS 140058005

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$319,500

832 Fig, Escondido

WOW....What a great opportunity to own a detached condominium in a gated community with Very Low HOA's....This 4 bedroom, 3 bathroom home has been updated with new carpet...

  • Beds 4
  • Baths 3.0
  • MLS 140057877
  • Bldg. Nk

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$219,900

4885 Cole St 4, Clairemont/Bay Park

Great park-like condo complex is located in the heart of Clairemont close to freeways, schools, bus stop, post office and shopping. Ground floor unit with no stairs . La...

  • Beds 2
  • Baths 2.0
  • MLS 140057848
  • Bldg. Cole Manor North

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$655,000

11358 Turtleback Lane, Rancho Bernardo/4S Ranch/Santaluz/Crosby Estates

Highly desirable High Country West four bedroom - located on a quiet street and backed to open space with beautiful northerly views; bedroom and full bathroom at first le...

  • Beds 4
  • Baths 3.0
  • MLS 140057768

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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 © 2014 Sandicor®, Inc.

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