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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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$167,500

2646 Alpine Blvd. Unit #D, Alpine

2 bedroom 1.5 bath end unit townhome across the walk from the pool area. Hookups for full-sized washer and dryer in unit. Deck off master bedroom upstairs and patio off...

  • Beds2
  • Baths2.0
  • MLS150005475
  • Bldg.Ridge Crest Condominiums

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$330,000

227 K Street, Chula Vista

Charming and Traditional Downtown Home*Located in corner lot just a short walk from Downtown Chula Vista. Charming home with just refinished natural oak hardwood floors ...

  • Beds3
  • Baths1.0
  • MLS150005171

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$209,900

3615 Vista Bella Unit #8, Oceanside

Back on market-subject to cancellation of previous escrow. Awesome new list price!..forever views to the west from family room/back yard! Wonderful move-in-ready single s...

  • Beds2
  • Baths2.0
  • MLS140046900
  • Bldg.Oceana

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$99,000

1623 Pentecost Way Unit #6, East San Diego

South Facing First Floor End Unit Condo Located In Harbor Vista Condominiums Community / Close To Highway 94 Off Federal Blvd At Euclid Avenue/ Close To Shopping/ Communi...

  • Beds2
  • Baths1.0
  • MLS150004813
  • Bldg.Harbor Vista Condominiums

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$610,500

9320 Mesa Vista Ave, La Mesa

6 bedroom, 3 bath home with 1 bedroom on the main level plus a bonus room. Master suite features fireplace and retreat with dual sinks, separate tub and shower in the bat...

  • Beds6
  • Baths3.0
  • MLS150004759

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$267,000

12131 Wilsey Way, Poway

This is a two story, two bedroom townhome that is conveniently located within the Award Winning Poway Unified School District and is within easy access to shopping, resta...

  • Beds2
  • Baths2.0
  • MLS150004757
  • Bldg.Pomerado Pines

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$100,000

238 E, Chula Vista

Cute in bedroom condo with great Chula Vista location. HOA fee covers gas electricity and water! Private enclosed patio and carport. Complex is not FHA or VA approved. Pl...

  • Beds1
  • Baths1.0
  • MLS150004716
  • Bldg.Twin Oaks

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$265,000

2993 Baily Ave, East San Diego

Cute mid century bungalow in a great neighborhood. The home sits on a bluff above the road and has views of the neighborhood from the yard. Great eat in kitchen and attac...

  • Beds2
  • Baths1.0
  • MLS150004700

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$295,000

Linda Vista

Hurry and be first to see and ready to buy! Looking for a great deal on a home? 2 bedroom, 1 bath home with beautiful hardwood floors, stainless steel appliances, granite...

  • Beds2
  • Baths1.0
  • MLS140065260

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$721,100

1455 Anchor, San Marcos

Beautiful 5 bedroom, 4 bathroom home! 3,068 square feet with a 2 car attached garage. Granite counter tops in the kitchen and master bathroom. Stainless steel applianc...

  • Beds5
  • Baths4.0
  • MLS150004588

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$340,000

154 Lotus Drive, Chula Vista

Welcome Home! This 3 bedroom 1 bath home features new dishwasher, new range, new hood, new garbage disposal, new toilet, new paint, new carpet and new water heater. Hom...

  • Beds3
  • Baths1.0
  • MLS150004581

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$229,000

1890 Chambery Unit #2335, Chula Vista

Opportunity awaits! Fantastic 2 bedroom/2bath condo located in Otay Ranch near multiple parks, schools, shopping and more! This condo features a bright and open layout wi...

  • Beds2
  • Baths2.0
  • MLS140060459
  • Bldg.Mer Soleil

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$304,900

150 61st Street, Encanto

BEING SOLD AS-IS. This is a fixer with a nice size lot. Close to elementary school. It offers 5 bedrooms for a growing family. Property has security gate for added off...

  • Beds5
  • Baths2.0
  • MLS150004410

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$369,900

4809 Lake Shore Place, Fallbrook

Great 1 story Lake Shore home, 3 bedroom 2 bath with and office space. Just remodeled completed with new interior paint, new carpet, new dishwasher, new range, new microw...

  • Beds4
  • Baths2.0
  • MLS150004271

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$371,700

87 Oxford, Chula Vista

Nice 3 bedroom 3 bath home in walking distance of Castle Park Elementary School close to the 805 and the San Diego Country Club. Cozy fireplace in the family room with b...

  • Beds3
  • Baths3.0
  • MLS150004151

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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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