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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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$359,900

16327 Bassett Ct, Ramona

This charming cape cod home is located on a large .46 acre lot on a quiet cul-de-sac street in the San Diego Country Estates of Ramona. It features an open floor plan, w/...

  • Beds3
  • Baths3.0
  • MLS150022207

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$219,900

4186 Mandarin Terrace, Talmadge/San Diego Central

This 2002 built home is located in the gated Orange Walk community just a block away from Colina del Sol Park and Golf Course. This end unit features an open floor plan w...

  • Beds2
  • Baths2.0
  • MLS150022202
  • Bldg.Orange Walk

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$571,100

1801 Callisia Court, Carlsbad

Beautiful home in a highly desirable gated community. 4 bedroom, 2.5 bathroom town-home style condo. Close proximity to local schools, shopping and the beach!

  • Beds4
  • Baths3.0
  • MLS150022162
  • Bldg.Poinsettia Heights

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$474,500

3253 Caminito Eastbluff Unit #26, La Jolla

2 bedroom, 2.5 bath unit with office and attached 2 car garage. Features include fireplace in the living room, granite counters in the kitchen and patio area. Located clo...

  • Beds2
  • Baths3.0
  • MLS150022008
  • Bldg.Eastbluff

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$219,900

2725 Sweetwater, Spring Valley

Cute 2 bedroom 1 bath home on large 7,841 square foot lot ready for your finishing touches. One bedroom offers a walk in closet and another built in shelving. Large stora...

  • Beds2
  • Baths1.0
  • MLS150021920

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$399,000

1102 La Mesa Avenue, Spring Valley

~~~BEAUTIFUL, BANK OWNED PROPERTY WITH POOL AND VIEWS!~~~ This home, located on a cul-de-sac, is super clean and in great condition. Appliances are all newer, in good con...

  • Beds3
  • Baths3.0
  • MLS150021754

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$300,000

251 Los Reyes, Encanto

Great home for a large family in a great neighborhood! Theres a lot to like about this home! Big open plan living area with fireplace serving both the living room and mas...

  • Beds3
  • Baths3.0
  • MLS150021598

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$289,000

3565 Paseo De Los Californianos Unit #254, Oceanside

Top floor unit towards back of complex. This 2bed/2bath 1,093 sq ft unit with bamboo floors in living area and fireplace has an updated kitchen with Cherry cabinets, gra...

  • Beds2
  • Baths2.0
  • MLS150021504
  • Bldg.Vista Way Village

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$264,300

32551 Luiseno Circle Drive Unit ##61, Valley Center

Community was built with Golfers in mind. This 3 bedroom, 3 bath contemporary home is big and bright, with separate enclosed patio for entertaining and double back patio...

  • Beds3
  • Baths3.0
  • MLS150021430
  • Bldg.Pauma Valley Cc Condo Unit

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$428,000

2237 Valley Lake Drive, El Cajon

Lots of potential with this spacious home in Fletcher Hills Highlands. Nice single-level floor plan with 4 Bedrooms & 2 Baths, wood floors, fireplace, dining room & enclo...

  • Beds4
  • Baths2.0
  • MLS150021382

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$260,000

8022 Jamacha Rd, Encanto

3 bedroom, 2 bath home single level home. Features include an enclosed patio, room addition and outbuilding addition. Permits unknown. Located close to school, restauran...

  • Beds3
  • Baths2.0
  • MLS150021270

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$235,000

266 Portia Ave, Vista

Corner lot location close to schools. Home offers a covered back patio. Addition permits unknown. Condition will restrict financing options. Client must visually inspect ...

  • Beds3
  • Baths2.0
  • MLS150021101

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$292,900

651 La Presa, Spring Valley

Fantastic Opportunity awaits! Recently upgraded single family home in Spring Valley , with private backyard, renovated kitchen, new interior paint, new interior carpet, u...

  • Beds3
  • Baths2.0
  • MLS150013081

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$249,000

1465 Lexington Avenue Unit #4A, El Cajon

Highly desired Dover Place Condominiums. 2 bedroom, 2 bath, 1-car attached garage. Go directly from the garage into the home. Paned windows and vertical blinds throughout...

  • Beds2
  • Baths2.0
  • MLS150020764
  • Bldg.Dover Place Condominiums

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$310,000

2805 Todd, Oceanside

Loma Alta 3 Bedroom, 2 Bathroom Home On Large Lot / Large Side-Rear Yard / Nice View From Rear Looking West / Property Being Sold "As-Is" In Its Present Condition /

  • Beds3
  • Baths2.0
  • MLS150020731

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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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