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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 858-382-5820.

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

12953 Grimsley, Poway

$308,500

Lender Owned. Wonderful home on corner lot with mountain views in great Poway neighborhood. This home features tile entr...

Beds 4

Baths 2.0

2070 Golden Eagle, Elfin Forest

$693,000

BANK OWNED BEAUTY!!! This gorgeous home was built in 2007. It offers BREATHTAKING PANORAMIC VIEWS from the ocean to ...

Beds 4

Baths 4.0

946 15th, South San Diego

$184,900

BANK OWNED OPPORTUNITY!!! This South San Diego fixer features an appealing open floor plan, convenient central location,...

Beds 5

Baths 2.0

221 WEST PARK AVE, SAN YSIDRO

$265,000

REO! Property fell out of escrow, take advantage of this new 3BR/2.5BA SFR. Home includes upgrades such as granite coun...

Beds 3

Baths 3.0

10235 Madrid, Terraza

$81,000

Lender Owned. Fantastic price for 2 BR home with nearly 1000 sq ft! Featuring tile entry, spacious living room, tile flo...

Beds 2

Baths 2.0

1261 Melrose Ave, Judson Estates

$284,900

BANK OWNED FORECLOSURE!! Not a Short Sale! NEW Interior Paint! 3 Bedroom, plus garage conversion. Wood Laminate & Tile f...

Beds 3

Baths 2.0

12447 Rosey Rd, El Cajon

$369,900

BANK OWNED FORECLOSURE!! Not a short sale! THIS HOME NOW HAS FRESH PAINT AND NEW CARPET. SHOWS GREAT!!! 3 Bedroom 2 Bath...

Beds 4

Baths 2.0

3562 S. Mission Road, NONE

$550,000

NOT BANK OWNED OR A SHORT SALE!! Large Home With Guest House on 1.6 Acres for an unbelievable price! This custom built h...

Beds 4

Baths 2.0

410 S. 1st Street, El Cajon

$59,900

LENDER OWNED REO! Charming home in a 55+ park. Quiet setting and very well kept. Convieniently located, close to shoppi...

Beds 2

Baths 2.0

1365 Seacoast Drive, Imperial Beach

$225,000

Wonderful BANK OWNED FORECLOSURE. This is a great location, just steps away from the beach, views to the estuary. Great ...

Beds 2

Baths 1.0

972 Iris Avenue, Imperial Beach

$312,000

BANK OWNED home in Imperial Beach... NOT a short sale! Spacious single-level 4Bed/2Bath on large 7,800sf lot. Wood floor...

Beds 4

Baths 2.0

5212 69th, San Diego

$189,700

WOW This bank owned property is perfect for a first time home buyer that wants to create their dream property. HUGE lot...

Beds 2

Baths 1.0

1610 Colusa Street, Otay Ranch

$479,900

Wachovia REO with new paint and carpet throughout. Bedroom converted into an office/media room. Tile and wood floors i...

Beds 5

Baths 3.0

7527 Jerez, La Costa

$390,000

NOT BANK OWNED OR A SHORT SALE...JUST A MOTIVATED SELLER. Great corner lot with nice views from both the upstairs balcon...

Beds 2

Baths 3.0