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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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$869,800

1360 Magnolia, El Cajon

Check out this great property on over 1 acre nestled in the foothills of El Cajon. Gated entry with old-style wooden bridge that takes you over the coy pond is just the b...

  • Beds4
  • Baths4.0
  • MLS150011839

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$380,000

32733 Lilac Rd., Valley Center

This home is in need of a total renovation. The home is priced accordingly. This property boast spectacular views, good bones, and a large detached garage/apartment wit...

  • Beds2
  • Baths2.0
  • MLS150011643

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$227,000

3236 Coral Drive, Oceanside

Nice 2 bedroom home with private backyard area and covered patio. Inside is light and bright with plantation shutters, neutral paint and carpet and tile flooring.

  • Beds2
  • Baths1.0
  • MLS150011623
  • Bldg.Costa Serena

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$395,000

25238 Poderio Dr, Ramona

Large custom 2 story home with 3 bedrooms plus an extra room, 2.5 ba 2508 sq ft with 3 car attached garage on .41 acre lot in San Diego Country Estates. Amenities include...

  • Beds3
  • Baths3.0
  • MLS150011609

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$629,900

689 Bauer Place, Vista

Rarely available single story home located on a quiet cul de sac with a large well landscaped lot and pool/spa. The house itself has an open floor plan with lots of ligh...

  • Beds4
  • Baths3.0
  • MLS150011474

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$520,000

5157 Cerulean Way, Oceanside

Location- convience- quality- amenities-spacious rooms- are key to this newer 5 bedroom two story 3 full bath home with newer carpet and fresh paint throughout. Granite c...

  • Beds5
  • Baths3.0
  • MLS150011346
  • Bldg.Sycamore Springs

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$496,800

1719 Club Heights, Vista

Great cul-de-sac location! 4 Bedroom 3 bath home open ceilings good sized back yard. Close to Rancho Buena Vista High School and Buena Vista Park.

  • Beds4
  • Baths3.0
  • MLS150011288

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$439,900

4748 College Avenue, Talmadge/San Diego Central

Great Investment Opportunity! 2 UNITS! Close proximity to SDSU/College Area. Front house is a 3 bedroom, 2 bath, 1540 esf. Open Floorplan, extra large kitchen. PLUS Re...

  • Beds3
  • Baths2.0
  • MLS150011268

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$115,000

1508 Circa Del Lago Unit #B111, San Marcos

Move-in Ready! Spacious turn-key first floor unit with patio. Fabulous 55+ community living. Nice fireplace in the living room and all appliances included. Monthly fee ...

  • Beds2
  • Baths2.0
  • MLS150011161
  • Bldg.Chateau Lake San Marcos

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$379,900

30434 Rolling Hills, Valley Center

Beautiful west-facing views from this great home resting on a flat acre with a huge detached garage-workshop. This property sit only minutes from the 15 HWY. Plenty of ...

  • Beds3
  • Baths3.0
  • MLS150011154

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$157,500

1085 12th St Unit #J, Imperial Beach

Welcome home to this cozy community of Imperial Palms! Upgraded in 2005 this great upper unit offers granite counter tops, stainless steel appliances and a linen closet! ...

  • Beds1
  • Baths1.0
  • MLS150011143
  • Bldg.Imperial Palms

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$359,900

1905 Cortez Ave, Escondido

Single family single level home located on quiet street with a private yard. In a great neighborhood with greenbelt views. 2 bedroom 2 bath with a large sunroom off the...

  • Beds2
  • Baths2.0
  • MLS150011131

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$225,000

9845 Caspi Gardens Unit #3, Santee

Large downstairs condo with walk in tub, fireplace in living room, tile flooring in living room, wood style flooring in the master bedroom and is wheel chair friendly. Th...

  • Beds2
  • Baths2.0
  • MLS140060974
  • Bldg.Riderwoor Gardens

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$239,900

843 Compass Way, Otay Mesa

Great Opportunity for 2 Bedroom/2.5 Bathroom Townhome at Spinnaker Point in Ocean View Hills!! Spacious 1 car attached garage, Large Master Bedroom, and Balcony off Livin...

  • Beds2
  • Baths3.0
  • MLS150010842
  • Bldg.Spinnaker Point

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$390,000

5666 Calle Sal Si Puedes, Paradise Hills

Panoramic views from dining room, living room, master bedroom and deck! This home is a unique one of a kind property, open and bright layout features new carpet, paint,...

  • Beds3
  • Baths3.0
  • MLS150000679

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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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