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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 858-205-9131 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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$460,000

3905 Baja Vista, Oceanside

Nice single level Oceanside home with easy access to the 5 & 76. Large family room with fireplace and ceiling fans. Optional room has no closet but could be used as a bed...

  • Beds3
  • Baths2.0
  • MLS170003826

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$295,000

13228 Wimberly Unit #186, Rancho Bernardo/Sabre Springs/Carmel Mt Ranch

Nice 2 bedroom 2 bath upper unit in Stony Brook. Covered balcony offers relaxing canyon like views. Laminate flooring in the kitchen and living room. Easy access to the ...

  • Beds2
  • Baths2.0
  • MLS170003434
  • Bldg.Stony Brook

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$96,900

2560 Flying U, Borrego

Located close to downtown Borrego Springs and priced to sell.

  • Beds3
  • Baths2.0
  • MLS170003308

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$169,900

1240 Broadway Unit #8, Escondido

Beautiful and Bright upper unit. 2 bed/1.5 bath open floor plan in the great gated Villa La Paz complex. pool, spa, BBQ area, club room and beautiful landscaped areas. Li...

  • Beds2
  • Baths2.0
  • MLS170003162
  • Bldg.Via La Paz

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$849,900

2233 Lundy Lake, Escondido

The Beautiful custom Lake Hodges estate features 4 large bedrooms,3 bathrooms and boasts many amenities including a lagoon style pool,an upgraded gourmet, kitchen with gr...

  • Beds4
  • Baths3.0
  • MLS170003059

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$383,000

4456 Maple Dr, Oceanside

Four bedroom home on a single level with a covered patio off the kitchen for outdoor entertaining. Cozy fire place in the family/living room area off the main entrance. L...

  • Beds4
  • Baths2.0
  • MLS170003002

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$424,900

414 Pacific, San Marcos

This is a great opportunity to own a 3 bedroom, 2 bathroom ranch that is centrally located in San Marcos. The property includes a living room with vaulted ceilings and a ...

  • Beds3
  • Baths2.0
  • MLS170002937

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$370,000

818 Via Juanita, San Marcos

Single story living in the heart of San Marcos! Diamond in the rough here. 3 bedroom/1/5 bathroom home. Newer windows and exterior stucco. Large yard. Quick easy a...

  • Beds3
  • Baths2.0
  • MLS170002897

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$465,000

5338 Rio Plata Drive, Oceanside

Single story living in the highly desirable Mission Santa Fe Neighborhood. 3 bedroom/2 bathroom home with vaulted ceilings. Cozy fireplace in living room. Low maintena...

  • Beds3
  • Baths2.0
  • MLS170002878

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$299,900

340 Calle De La Paloma, Fallbrook

Single story, two bedroom, 1 bath home located in the quiet and tree-lined Fallbrook community. Home is approximate 1102 sqft and also has a detached garage with an apart...

  • Beds2
  • Baths1.0
  • MLS170002791

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$185,000

12142 Lemon Crest Drive Unit #1, Lakeside

Affordable opportunity with this one story, 2 bedrooms/1 bath condo with attached one car garage and one other parking space. No stairs! Near community pool and barbeque ...

  • Beds2
  • Baths1.0
  • MLS170002740
  • Bldg.Winter Gardens Green

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$115,900

22230 Crestline Road, Palomar Mt

Cozy cabin located on Palomar Mountain. Very secluded quiet area to relax and enjoy nature and wildlife. Loft could easily be used as an additional bedroom. Wood burni...

  • Beds1
  • Baths2.0
  • MLS170002579

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$509,900

4103 Karst, Carlsbad

Gorgeous, turn key - Tri-level townhome! Desirable location in Carlsbad in Mystic Point. Master bedroom retreat with private full bath upstairs, 2nd bedroom, with full ...

  • Beds2
  • Baths2.0
  • MLS170002519
  • Bldg.Mystic Point

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$279,900

10699 San Diego Mission Rd Unit #302, Mission Valley

Top floor unit in popular Mission Plaza complex in Mission Valley features living room with wood floors, new, neutral carpeting in bedrooms, fresh paint and new bath vani...

  • Beds2
  • Baths1.0
  • MLS170002502
  • Bldg.Mission Plaza

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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 © 2017 Sandicor®, Inc.

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