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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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$267,645

814 Hollister Unit #A, Otay Mesa

3 bedroom, 2.5 bath unit with attached 2 car garage. Just completed a freshly painted interior, new carpet and misc. repairs. Located close to schools, restaurants, shop...

  • Beds3
  • Baths3.0
  • MLS150028310
  • Bldg.Imperial Palms

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$268,900

2930 Broadway Unit #50, Golden Hill

West Facing 2 bed/2bath 924 sq ft unit in gated building with 2 assigned gated parking spaces. Great neighborhood of Golden Hills just east of Downtown San Diego and just...

  • Beds2
  • Baths2.0
  • MLS150028242
  • Bldg.Golden Park Villas

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$287,000

611 Beyer Way Unit #403, Otay Mesa

Very rare opportunity in San Diego/San Ysidro. Three bed/2.5 bath townhome with two car garage and laundry in garage. Last one like this model sold several years ago an...

  • Beds3
  • Baths3.0
  • MLS150018599
  • Bldg.The Park

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$334,900

128 Tropicana Dr, Oceanside

3 bedroom, 2 bath single level home. Just completed a freshly painted interior AND exterior, new carpet, new vinyl, new appliances and misc. repairs. Open living, dining ...

  • Beds3
  • Baths2.0
  • MLS150007180

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$260,000

648 51ST Street, Encanto

BEING SOLD AS-IS. SELLER WILL NOT DO ANY REPAIRS. Located at end of cul-de-sac. Tax rolls state 2 baths but there are 3 baths. Two bedrooms down stairs and 2 bedrooms up...

  • Beds4
  • Baths3.0
  • MLS150028008

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$217,500

8840 Ildica Street, Spring Valley

3 bedroom, 2.5 bath, 2 car garage, fenced yard, covered patio with tile flooring, range, refrigerator, ceiling fans, wood shutters, new carpet and paint.

  • Beds3
  • Baths3.0
  • MLS150027828
  • Bldg.Sweetwater Creek

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$335,700

1359 Borden Rd, Escondido

Nice home in great location! Granite kitchen and bathroom counters, tile flooring, fireplace in the living room and big private back yard!

  • Beds3
  • Baths2.0
  • MLS150027809

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$329,900

522 Sandalwood, El Cajon

Single family residence centrally located in El Cajon, with 4 bedrooms 2 baths with 1436 sq ft. Minutes drive to Shopping, restaurants, and schools. Easy access to freewa...

  • Beds4
  • Baths2.0
  • MLS150027773

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$975,000

14485 Caminito Lazanja, Rancho Bernardo/4S Ranch/Santaluz/Crosby Estates

Great single Garden home with wonderful outdoor living spaces including a courtyard with an outdoor fireplace and great BBQ area in the backyard! The interior of the home...

  • Beds3
  • Baths3.0
  • MLS150027731

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$179,000

4650 Dulin Unit #90, Fallbrook

Spacious home in the very desirable Rancho Monserate Senior Park and Golf Course. Residents golf for free. You own the land in this beautiful park with county settings. ...

  • Beds2
  • Baths2.0
  • MLS150027625
  • Bldg.Rancho Monserate

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$208,820

3454 Castle Glen Dr Unit #123, Mission Valley

This Condo unit comes with 4 rooms including two bedrooms and one bathrooms. PROPERTY SOLD AS IS WITHOUT REPAIR OR WARRANTY. List price may not be the minimum bid at t...

  • Beds2
  • Baths1.0
  • MLS150027442
  • Bldg.Allure

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$425,000

1271 Gold Run Road, Chula Vista

4 bedroom 2 1/2 bathroom home located in Otay Ranch.

  • Beds4
  • Baths3.0
  • MLS150027435

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$370,000

23354 Barona Mesa, Ramona

Beautiful San Diego Country Estates Home recently remodeled with new carpet, paint, refinished cabinetry, granite counter tops, wood tile entry, new HVAC system etc. Thi...

  • Beds4
  • Baths3.0
  • MLS150027261

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$350,000

8506 Calle De Buena Fe, El Cajon

Located near intersection of Los Coches Road and Interstate 8, this El Cajon property is waiting for someone to make it their home.This is a two story,3 bedroom 2.5 bath ...

  • Beds3
  • Baths1.0
  • MLS150027180

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$169,900

4010 Imperial, Julian

Beautiful home in the heart of Julian! This home sits upon a tree-shaded private lot located close to downtown. Abundance of forest-like trees to truly give you the mount...

  • Beds4
  • Baths2.0
  • MLS150027099

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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 © 2015 Sandicor®, Inc.

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