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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 payoff that is less than what is owed is referred to as a short sale or short pay.

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

$1,000,000
2 Beds 2 Baths NDP2300903 MLS ACTIVE Status
Incredible Views on the Shadowridge Golf Course. Location one of the best settings in the neighborhood. Single story home Light bright Over the Top Complete Remodel of former Model Home. European Designer spared no expense in creating this stunning showcase. Formal Living room w/ fireplace + great room w/ vaulted ceilings from front to back w/ New Drywall throughout. Front door over 5 K beautiful entrance. Two Engineered Collums poured w/ extra reinforced concrete 4ft. into the ground to support the solid beam that goes from front of entry room into the back great room. Recessed lighting throughout. Two skylights, High-End Windows throughout, 2 recently installed Sliders, Double French door. New Shutters and blinds. Super airy and bright with natural light throughout. Kitchen Living room and family room all have incredible golf course views. Great location near parks, shopping, schools and many restaurants. Location is on the golf course with no one behind you and sits on a hill that lets you relax and sit on back patio and enjoy constant ocean breezes and peaceful sunsets. Countertops, island, backsplash are extra thick seafoam green marble. High-end cabinets w/ high end appliances, Bosch Range, Kitchen Aid oven. Liebherr Refrigerator w/ double drawer freezer. added extra storage closet off guest bedroom. dimmers on almost all new lighting w/ upgraded electrical. All the recently installed windows and sliders are cold resistant and double pained. Helps keep warm in the winter and cooler during the summer. Cherrywood Floors that are individual planks hand installed. Extra-l

1993 Lemonwood Lane Lane, Vista

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