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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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$249,900

8715 Lake Murray Blvd # 7, San Carlos

Beautiful Move in ready home! Everything has been remodeled in this home! Lovely kitchen cabinets with new sparking white tile counters; Whirlpool range/oven, microwave a...

  • Beds3
  • Baths2.0
  • MLS160053284
  • Bldg.Lake Murray Terraces Hoa

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$340,000

1924 Madera, Lemon Grove

Single story home located on top of a hill in Lemon Grove. This home features 3 bedrooms, 2 full bathrooms, a large living room with cozy fireplace. The kitchen is ample ...

  • Beds3
  • Baths2.0
  • MLS160053238

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$1,418,900

13166 Sunset Point, Carmel Valley

Beautiful Vista Santa Barbara home with 5 bedrooms and 5 bath. One bedroom and bath downstairs. Travertine in most rooms. Large gourmet kitchen with stainless steel app...

  • Beds5
  • Baths5.0
  • MLS160053170

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$383,900

756 Callecita Aquilla Sur, Chula Vista

“Bank Owned. Excellent opportunity for the right buyer”

  • Beds3
  • Baths3.0
  • MLS160053138
  • Bldg.Tivoli

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$99,900

30027 Quail Rd, Campo

Located in Lake Morena Village is the 1 bedroom 1 bath 540 sq ft cottage with deck and 1 car detached garage. Needs some TLC. Occupied property, inspections not availa...

  • Beds1
  • Baths1.0
  • MLS160053101

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$400,000

351 Claydelle Ave, El Cajon

Completely rebuilt & remodeled home is move-in ready! All new kitchen w/granite counters & ample storage in the new cabinets; The Living Room, dining room & kitchen all ...

  • Beds3
  • Baths2.0
  • MLS160053045

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$306,800

1885 Fargo Lane Unit #3, Chula Vista

3BR3BA tri-level town home in desirable Otay Ranch. 2 bedrooms on upper level with full baths. One bedroom on main floor. White appliances, washer and dryer in garage. ...

  • Beds3
  • Baths3.0
  • MLS160052297
  • Bldg.Stetson

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$489,900

825 Murray Dr, El Cajon

Check out this very large fixer at the base of Fletcher Hills walking distance to Grossmont high school. This is a great single level home ready for an investor who can r...

  • Beds2
  • Baths3.0
  • MLS160052229

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$324,900

6592 Cielo, Encanto

Encanto special! Bring your remodeling ideas! This 3 bedroom 2 bath house features a family room (permits unknown) with brick fireplace, 2 car attached garage and spaci...

  • Beds3
  • Baths2.0
  • MLS160052221

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$284,900

1875 Baudouin Unit #1733, Chula Vista

Top Floor Penthouse Style Condo located in beautiful Otay Ranch- Mer Soleil. This two bedroom, 2 bath condo features a large living room, separate dining area, modern kit...

  • Beds2
  • Baths2.0
  • MLS160052078
  • Bldg.Mer Soleil

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$550,000

640 Ranchito Drive, Escondido

Property is located on a high rolling hill in Escondido with views of the city lights. This once beautiful family home can be restored to its original condition. Location...

  • Beds3
  • Baths3.0
  • MLS160051959

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$204,900

145 El Norte Parkway Unit #108, Escondido

Ground level condo with 2 bedrooms and 2 full baths. Granite counters and tile flooring in the kitchen. Fireplace and laminate flooring in the living area. Private pat...

  • Beds2
  • Baths2.0
  • MLS160051665
  • Bldg.Sienna Hills

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$729,900

11397 Swan Canyon Rd, Scripps Ranch

Great opportunity in Scripps Legacy. Features and recent upgrades include; 4 bedrooms including 1 on main floor plus upstairs loft, 3 full baths, newly installed stainles...

  • Beds4
  • Baths3.0
  • MLS160051502

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$154,900

4446 48th St. Unit #5, Talmadge/San Diego Central

Perfect for first time buyers or investors! Very functional kitchen with white appliances, tile countertops & nice wooden cabinets. Mirrored closet doors in the bedroom. ...

  • Beds1
  • Baths1.0
  • MLS160051100
  • Bldg.Talmadge Park Villas

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$730,900

1702 Layne, El Cajon

Nice Rancho San Diego 5 bedroom 3 bath home with great end of cul de sac location. Large master bedroom with balcony overlooking the pool. Travertine flooring in some roo...

  • Beds5
  • Baths3.0
  • MLS160051043

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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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