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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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$699,900

28386 Cavalier Ct, Escondido

Opportunity knocks!!! Well over 2 acres of useable land nestled in the Hidden Meadows Estates in northern Escondido. This fixer property is perfect for that homeowner wh...

  • Beds5
  • Baths4.0
  • MLS160064338
  • Bldg.Hidden Meadows

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$703,900

1617 Tuscan Springs Avenue, Chula Vista

Lovely spacious home in Otay Ranch. Soaring ceilings, recessed lighting, hardwood flooring and big kitchen island. Fireplace in family room AND master bedroom. Master ...

  • Beds5
  • Baths4.0
  • MLS160064157

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$386,900

1503 Renwick Ln, Vista

Bank Owned. Excellent opportunity for the right buyer

  • Beds3
  • Baths2.0
  • MLS160064093

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$725,900

1454 Sundance Avenue, San Marcos

Location, location, location!! Panoramic view lot in the award winning community of San Elijo Hills. Open floor plan with a large master suite including a 5 piece bathro...

  • Beds4
  • Baths3.0
  • MLS160064053

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$450,500

1735 Long Ridge St, Chula Vista

Bank Owned. Excellent opportunity for the right buyer

  • Beds3
  • Baths3.0
  • MLS160063957
  • Bldg.Lomas Verdes

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$290,000

1386 Palomar Pl, Vista

You will enjoy your morning coffee or evening drink on the patio right off of your living room. You will love the fireplace for Vista's cooler evenings. The community poo...

  • Beds3
  • Baths2.0
  • MLS160063919
  • Bldg.Vista Palomar

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$699,900

6169 Primrose Drive, La Mesa

This gorgeous San Diego County home can be a great move up home for a family looking to grow. Located in La Mesa, This custom home features 6 bedrooms, 6 baths plus a 2-c...

  • Beds6
  • Baths7.0
  • MLS160063718

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$339,900

1232 Stagecoach Trail Loop, Chula Vista

Great opportunity to own this 2 Bedroom/2 Bath unit shows very light and bright. Wood floors in living and dining room; Ceramic tiles in kitchen and baths; slate tile on ...

  • Beds2
  • Baths2.0
  • MLS160063642
  • Bldg.Sycamore Ridge 2

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$574,900

3076 Fox Run Way, Linda Vista

Large family home with a view! 4 bedrooms and 2 ½ baths with attached 2 car garage. Living room with fireplace, separate dining area off of the kitchen and hardwood flo...

  • Beds4
  • Baths3.0
  • MLS160063613
  • Bldg.Trails Of Fox Run

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$272,900

28810 Sleepy Hollow, Pine Valley

Great opportunity to buy a .31 acre lot with 2bed/1bath 990 Sq ft with 2 car detached garage in Pine Valley. This lovely hidden community has rustic charm of a mountain ...

  • Beds2
  • Baths1.0
  • MLS160063482

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$275,000

1691 Melrose Unit #A, Chula Vista

Great first floor unit with no neighbors behind and private patio. The layout is spacious with dynamic kitchen, a separate dining area, large living room with private pa...

  • Beds3
  • Baths2.0
  • MLS160063479
  • Bldg.Melrose Villas

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$386,900

673 5th Ave, Chula Vista

Bank Owned. Excellent opportunity for the right buyer”

  • Beds4
  • Baths3.0
  • MLS160063201

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$273,000

822 Iona Dr, Encanto

Looking for a large lot and equity building opportunity you found it. Check out this Fannie Mae owned home in neglected condition. This two bedroom one bath 875 sq. ft. ...

  • Beds2
  • Baths1.0
  • MLS160063094

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$934,500

21360 Crestwind Dr, San Marcos

CUSTOM HOME ON OVER 16 ACRES. Absolutely gorgeous panoramic views from all windows of this secluded retreat. City close, but very private. Wonderful rear patio with plent...

  • Beds3
  • Baths3.0
  • MLS160062949

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$84,900

35109 Highway 79 Unit #SPC 57, Werner Springs

Two bedroom/two bath home located in the 55+ Community of Stone Ridge at Warner Springs Estates. Beautiful views from the screened porch. Kitchen with breakfast counter/b...

  • Beds2
  • Baths2.0
  • MLS160062810
  • Bldg.Stone Ridge At Warner Springs

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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 © 2016 Sandicor®, Inc.

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