For a FREE list of San Diego foreclosures, just fill out the form below and let us know which zip codes or areas you are interested in and we'll email you an up-to-date Foreclosure list.
Your privacy is always important. Your information will not be shared, sold or exchanged with anyone else.
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, give us a call at 619-964-4663.
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, send me an email to mike@OwnInSanDiego.com or contact us at 619-964-4663 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.
|
|
|
Equal Housing Opportunity
