Free San Diego foreclosure listings opening the flood gate of cheap homes- By: John Smith

Description : Free San Diego foreclosure listings, the bible of cheap properties in San Diego are available free of cost in major real estate websites. Whether you are looking for a commercial property or a residential one, these listings serve the purpose ideally. They even enlist beach cottages and condos which can be bought through auctions. In San Diego power of sale or non-judicial foreclosures are practiced as California is a title theory state. Here, the lender forecloses properties when the property owner fails in repaying the debt amount pending on the property. In this article we will discuss about foreclosure process in detail and ways to buy them in a hassle free manner.

Homes in foreclosure are sold to recover unpaid debt of the lender. Lenders in San Diego use their equal lien holder status to foreclose the property while the borrower makes substantial default in the repayment of loans against property. For this, the lender does not need any judicial intervention as he is empowered with power of sale clause. However, the lender has to inform the trustee regarding the default. If it is a gross default, the borrower is given 20 days as the last chance to repay the unpaid amount. Any failure leads to the issue of foreclosure sale notice. The basic aim of the foreclosure sale is to recover the unpaid debt amount and foreclosure cost.

The lenders can also appeal for deficiency judgment. It is regarding selling the foreclosed property at the market price. However, as one-action rule is legal in California, deficiency judgments are not applied to power of sale foreclosures. Hence, there is a bright chance of purchasing homes in foreclosure at San Diego at a lower price.

Real estate websites offer you free San Diego foreclosure listings according to category, location and price of the property. These listings make buying and searching for foreclosed properties easier. Now, a prospective buyer needs not look for agents and can simply refer to the official websites of real estate agents to find the property of one’s choice. Simply placing a search on the internet also reveals a lot of interesting results. These things today have become very simple and easy as people can actually buy a property instantly. Scan through these websites today and make your way towards a homeowner easier.

Article Source : http://www.realestateproarticles.com/

Author Resource : Original Post: Free San Diego foreclosure listings opening the flood gate of cheap homes on FreeForeclosuresSale.com.