Orange County Bank Owned Foreclosures & REO Properties

We Specialize In Orange County FORECLOSURES!

Orange County bank foreclosures also known as REO properties (Real Estate owned) often represent a great way to get a below-market price on a home. We have put together on our site all available bank foreclosure homes and REO properties for sale conveniently organized by city and price range. Feel free to browse the current inventory below or search by individual city, and make sure to read our foreclosure tips on how to buy bank foreclosure homes for sale. Sign up for daily updates to ensure you receive all new foreclosure listings right as they become available.

Read more about Orange County bank foreclosures below.

Orange County Bank Foreclosures for Sale

All Listings Under $500,000 $500,000 - $700,000
$700,000 - $900,000 $900,000 - $1,000,000 $1,000,000 - $1,500,000
$1,500,000 - $2,000,000 $2,000,000 - $2,500,000 $2,500,000 - $3,000,000
$3,000,000 - $4,000,000 $5,000,000 - $7,500,000 Over $10,000,000
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$695,000
 

24182 Spartan Street, Mission Viejo

3 Beds, 2 Baths, 1,540 SqFt
Hurry to this amazing 3 bedroom, 2.5 bath pool home listed by HUD. This home has a great open bright one story floor plan with french doors from the dining room for dinners al fresco in the awesome Orange County climate. The home has an amazing entertainer's backyard with decking, pool, spa and BBQ area with views of the local hillsides. The yard is elevated higher than most neighbors so it offers privacy. There is lots of potential in this
New
$1,025,000
 

41 Blakemore Drive, Ladera Ranch

5 Beds, 3 Baths, 3,227 SqFt
Incredible value plus the LOWEST PROPERTY TAX RATE IN LADERA RANCH. Single loaded prime location next to a small pocket park. Elegant entry that opens into a large great room with vaulted ceilings, custom built-in entertainment center, fireplace and plantation shutters. Formal dining room with french doors that lead to the side yard. Over sized gourmet kitchen equipped with built in refrigerator, stainless steel appliances, granite counters,
New
$975,000
 

20 Paseo Canos, San Clemente

4 Beds, 3 Baths, 2,701 SqFt
Fantastic Opportunity to Become Part of the Exclusive Talega Community! Located in the Sabella Subdivision, this Highly-Upgraded "Model 3" Home features 4 Bedrooms & 3 Bathrooms w/ 2 Bonus rooms that can be used an an office, playroom, or converted into extra bedrooms! Living room w/ fireplace. Family room w/ 2nd fireplace. Newer oversized double-pane windows throughout let in lots of natural light. Window dressings throughout.
$1,199,900
 

843 Polaris Drive, Tustin

5 Beds, 4 Baths, 3,360 SqFt
Yes, finally, a Tustin Field II home ready for you. An exquisitely designed spacious floor plan with a plethora of designer preferred upgrades throughout to accent every detail taken into consideration. This home offers an extensive amount of upgrades while still giving you the feel of warmth and classic charm. Some of the upgrades include : custom slate and hardwood floors, granite countertops, modern sinks, fixtures and custom cabinetry with a
$634,900
 

13 Mejorana, Rancho Santa Margarita

3 Beds, 3 Baths, 1,551 SqFt
Nice 3 bedroom 2.5 bath home needing some TLC. It features plantation shutters throughout the house. There is a walk in pantry in the kitchen and a brick fireplace in the family room. Backyard boasts an inground spa and a patio deck. Ideally located close to community park and pool. Near the RSM lake and the swimming lagoon. There is only one hOA which includes 4 pools, tennis courts, parks and picnic areas.
$503,500
 

24272 Airporter Way, Laguna Niguel

3 Beds, 3 Baths, 1,419 SqFt
Welcome home to the city of Laguna Niguel, and to one of the newer cities in the county. But don’t let that fool you, for it has already established itself as one of the best places to live in Orange County. This is a three bedroom, two and one half bathroom condominium that lives like a single-family home. You will appreciate the end unit location situated on the perimeter of the complex, as the patio faces West and provides Panoramic views of
$875,000
 

364 Princeton Drive, Costa Mesa

3 Beds, 2 Baths, 1,380 SqFt
This beautiful custom 3 Bed 2 Bath College Park home is perfect for entertaining. Walking up the custom stone walkway through the front atrium entry you will find double doors opening into the airy open floorplan. The kitchen featuring Maple Cabinets, Granite Counters, Stainless Steel Appliances, and Peninsula with bar seating overlooks the Dining Area and Family Room. The Family Room boasts a Quartzite Flagstone Fireplace w/Custom Maple Mantel
$2,125,000
 

15 Oak Canyon, Coto De Caza

5 Beds, 6 Baths, 4,877 SqFt
SHORT SALE APPROVED AT $2,125,000. This exquisite, equestrian dream home in the Trails has been impeccably remodeled and redefines “turnkey”. Panoramic, breathtaking views of the mountains and hills surround this elevated, custom home situated on a full acre. The grounds include a stunning infinity edge pool & spa, built-in BBQ & bar, barn facilities, fire pit & oversized play area, all adjacent to an Oak Grove preserve. The interior
$2,400,000
 

508 Westminster Avenue, Newport Beach

4 Beds, 6 Baths, 5,152 SqFt
Located along the most coveted Southern California Coastline in the heart of Newport Beach, this stunning Newport Beach estate has the most desirable Mediterranean timeless architectural design. Constructed with the finest materials, Encompassing 5,132 sq ft, including soaring ceilings an open floor plan beautifully blending interior living spaces with the outdoors that delivers a entertaining experience second to none. Two intimate entertaining
$455,000
 

50 Santa Barbara Court, Lake Forest

2 Beds, 3 Baths, 1,093 SqFt
Rarely does an executive dual master end unit town-home with an attached two car garage come onto the market with a price tag below $500,000 - and no Mello Roos! Super low property tax rate. This home is available for sale for the first time since 2004 and won't last. Located away from streets or pool noise, this home enjoys beautiful foothill scenery with quiet serenity. Space saving custom built ins and a private balcony patio in one bedroom
Reduced
$29,995,000
 

2112 E Balboa Boulevard, Newport Beach

6 Beds, 10 Baths, 9,478 SqFt
This extraordinary one-third acre waterfront parcel situated across the harbor, possess a sweeping city light view of Newport Coast. Nearly ten thousand square feet of refined living area are centered around a Mediterranean courtyard that is dressed with mature citrus, olive trees and rose gardens. The home features a grand gallery corridor leading past the dining room, library and private theatre into the kitchen and family room in view of the
$1,088,000
 

28822 Sean Drive, Laguna Niguel

4 Beds, 3 Baths, 3,000 SqFt
An amazing opportunity for you to own this panoramic view home, situated on a desirable single-loaded street in the prestigious guard-gated neighborhood of "Hillcrest Estates!" This light and bright four bedroom home boasts a backyard perfect for relaxing or entertaining, with lush lemon and tangerine trees, a built-in barbecue, and a soothing fountain. Inside, find soaring double-floor ceilings, low-maintenance ceramic tile
Reduced
$929,000
 

34 Maple Leaf, Mission Viejo

4 Beds, 3 Baths, 2,851 SqFt
This home is located in the exclusive guard-gated community of Canyon Crest. Private, Cul-de-sac Home features 3 bedrooms + office and an extra-large bonus room that can be a 4th bedroom, open floorplan with two-story soaring ceilings in Living room, two fireplaces (living room and family room), Travertine floors in extra-large family room, kitchen and all bathrooms, engineered espresso hardwood in all bedrooms. The gourmet kitchen boasts
$2,349,000
 

2856 Terry Road, Laguna Beach

4 Beds, 4 Baths, 2,598 SqFt
With a stunning 2008 renovation by Laguna Beach architect Drew Blake, this home has been tastefully updated with a 2019 vibe. Blake’s vision remains the same. With two expansive viewing decks overlooking iconic Victoria Beach, the lower level has three bedrooms, two and three quarter baths, and an open concept living room/kitchen with bi-fold doors providing fabulous outdoor living space. The entire second story is Master bedroom, with a huge,
$750,000
 

2327 Avenida Marejada 38, San Clemente

3 Beds, 3 Baths, 1,657 SqFt
NICE , NICE THREE BEDROOMS AND TWO 1/2 BATHROOMS. NEAR THE OCEAN NOT TO MENTION ALL THE SHOPPING YOU WANT. CLOSE TO THE BEACH WHAT ELSE CAN WE SAY? YOU NEED TO COME AND SEE THIS PROPERTY. BRING YOUR REASONABLE OFFERS.
$770,000
 

206 Avenida Sierra, San Clemente

3 Beds, 2 Baths, 1,450 SqFt
Rustic beach cottage in Central San Clemente! This spacious 3 bedroom, 2 bath home has many custom features and plenty of room for entertaining! The enclosed front yard and backyard are perfect for BBQing with friends or relaxing in your private outdoor space. There are also 2 separate living rooms on opposite sides of the home and a cozy fireplace. Beautiful beamed ceilings, recessed lighting, and Spanish pavers throughout. Upgrades
Reduced
$735,000
 

6472 Yale Circle, Huntington Beach

4 Beds, 2 Baths, 1,274 SqFt
Don't miss this Huntington Beach original owner home! Cul de sac location with beautiful landscaping, many full-grown fruit trees. Sq.footage listed on tax roll does not represent a remodeled dining room that was expanded with french windows. Walk score is awesome! Elementary school within 2 blocks and Mall just down the road. Tax rolls say 4 bedrooms, however, at one point a wall was removed from 2 bedrooms at front of the house making a
$1,124,000
 

29381 Thackery Drive, Laguna Niguel

5 Beds, 4 Baths, 3,416 SqFt
Under the Tuscan Sun..feel like you’re on holiday in Italy. Lush greenery, palms & magenta bougainvillea's paint a dreamy view from dual pane windows. An Azure free-form salt water pool, built-in BBQ & fireplace encourages ‘nesting’. Large w/ 21 ft vaulted ceilings & routed crown molding anchor yellow ochre & cafe latte colored walls. Recessed lighting illuminate w/ modernity in a home exemplifying old world charm. Tray ceiling
$595,000
 

1 Evanston Place, Ladera Ranch

3 Beds, 3 Baths, 1,700 SqFt
Approved Bank Shortsale! Prime corner location, just across the street from Boreal Park which features picnic areas, barbecues, swimming pool and a large playground area. Spectacular location in the heart of Ladera Ranch just walking distance from Terramor Water Park and Skate Park. Home features 3 Bedrooms, 2.5 bathrooms with 1,700 square feet of living space! Drive into your large TWO Car Garage with extra storage space in the back as well as
Reduced
$999,900
 

33501 Calle Miramar, San Juan Capistrano

4 Beds, 3 Baths, 3,266 SqFt
MAJOR PRICE REDUCTION---PRICED TO SELL A spacious family home located in the prime secluded community of Meredith Canyon with canyon views and partial ocean view. Featuring a large living room with high ceiling and sky lights. A large dining room, open kitchen and family room. 3 nice size bedrooms upstairs with a full bath and a large Master bedroom and Bath,with a fireplace and a large balcony with ocean view. The home has all vinyl windows
$799,000
 

81 Vermillion, Irvine

3 Beds, 3 Baths, 1,668 SqFt
VERY DESIRABLE END UNIT...HARDWOOD FLOORS DOWNSTAIRS FIRST LEVEL...UPGRADED KITCHEN ISLAND OPENS TO LIVING ROOM MAKING A GREAT ROOM...FIREPLACE...DIRECT GARAGE ACCESS TO 3 CAR GARAGE...BEDROOM AND BATH DOWNSTAIRS...LOFT AREA FOR AN OFFICE...UNIQUE RAISED FORMAL DINING AREA...HIGH CEILINGS...NEAR THE COMMONS PARK...ONE OF THE MOST SOUGHT LOCATION IN COMPLEX...CASALON MODEL: C A2 SERENITY...
$1,059,000
 

34 Parma, Irvine

5 Beds, 4 Baths, 3,107 SqFt
Built in 2001, this two story single family residence features five bedrooms and four baths with two car attached garage and covered rear patio. Balcony from master's bedroom. Fenced in yard. Kitchen with plenty of cabinet space which includes an island for extra counter preparation. Living room/dining room combo. Family room with fireplace. Master bedroom and bath with separate shower and soak-in tub. Carpet in all bedrooms.
$1,085,000
 

2 Shepherd Court, Ladera Ranch

4 Beds, 5 Baths, 3,901 SqFt
Welcome home to the community of Ladera Ranch, and to the very essence of Tuscany found here in the guard-gated enclave of Covenant Hills. The home is close to 3,900 sq. ft and features four bedrooms four bathrooms a formal powder room, dining room, living room, family room, breakfast area, a very large country kitchen, a second story family room and a semi-detached bonus room complete with fireplace. The lot is larger for the area at nearly
$1,135,000
 

4611 Winthrop Drive, Huntington Beach

3 Beds, 3 Baths, 2,073 SqFt
Cape Cod style two story home at Brightwater, Huntington Beach’s premier coastal community. The Trails Plan 3, the largest of all models at the Trails with only twelve constructed, features a main floor chef’s kitchen with built in Viking stainless steel refrigerator & appliances, family room with fireplace, and a den which can be used as a reading room, or a formal dining room. The second floor features include an individual laundry room,

More About Orange County Bank Foreclosures & REO Property

Locating and Purchasing Foreclosure Properties

Properties heading into foreclosure, or actually in foreclosure can be very "good buys". So can properties offered by relocation companies and corporate owned. Finding homes that fall in these categories can be difficult, often properties that are advertised as foreclosures are already sold by the time the advertisement is published. Web sites offering foreclosures for sale are often woefully "out-of-date". Negotiating for these types of properties requires representation by Real Estate agents experienced in these types of challenging negotiations - there are often "multiple offers" to buy these properties! Our Consulting Team has handled many properties in foreclosure and those being sold by relocation and corporate owned companies. Please contact us if you are looking for experienced representation.

Five Ways to Acquire Orange County Foreclosures

In general, there are five basic ways to acquire foreclosure homes for sale at discounted prices. All but one of them permit the buyer to pay for qualified assistance from other sources (such as a title and/or escrow company). Unfortunately, the most popular technique (buying properties at the trustee's sales) allows no such luxury. The purchasing process at the trustee's sale requires each buyer to make his own thorough investigation of both title and debt on the chosen property within a limited time frame.

1. Delinquent Seller

The first and simplest way to buy properties under the fair market value arises when the delinquent (not defaulted) owner is uncovered. The delinquent seller will not have made recent payments of principal, interest, taxes or insurance and/or may have reduced the value of the property through benign negligence or lack of funds. When the delinquent owner realizes that he will be unable to meet the commitments on promissory notes and trust deeds for an extended period, he may choose to sell his property even at a discounted price rather than proceed through the foreclosure process.

The wise buyer will point out to the delinquent (and later defaulted) owner how he will be harmed by proceeding through the brief foreclosure process to the trustee's sale. At that point, the owner will lose his property, lose his equity, reduce his credit standing as a result of the recorded foreclosure and may have taxable income due the IRS for the amount of the debt reduction (elimination of the trust deed debt) resulting from the trustee's sale. Selling to an interested buyer at a discounted price may well be the most convenient solution for the troubled, delinquent owner.

2. Defaulted Seller

The property owner becomes a defaulted owner when the trustee for the beneficiary records a Notice of Default. During the following three month plus three week period, a Notice of Trustee's Sale also will be recorded and  published in a local adjudicated newspaper once a week for three weeks just prior to the trustee's sale. Live-in buyers of the property of the defaulted owner may negotiate any reasonable purchase price and terms for the property with the defaulted owner. Investors who seek to purchase the primary residence of a defaulted owner of one to four units and who are not related to that owner must work with the equity seller under the restrictions of two California Civil Codes which can make such purchases more difficult. These restrictions require the use of a special contract with a Notice of Cancellation, permit the equity seller to pursue the equity purchaser for unconscionable advantage for two years after the sale, and eliminate the use of outside assistance in the pursuit of a foreclosure property. Investors who unwittingly or intentionally become foreclosure consultants to equity sellers may also place themselves in jeopardy under certain conditions.

3. Trustee's Sale

Most purchasers of foreclosure homes for sale prefer to acquire their properties at the trustee's sale. At thistime, it is possible to make property purchases without being in contact with the defaulted owner or foreclosing lender. Money talks. Anyone with money may make a purchase regardless of credit, race, religion, etc. The verbal auction permits the highest bidder to acquire a property by paying off only the remaining balance on the foreclosing loan regardless of the fair market value of the property.  Debt recorded after the date of recording of the foreclosing loan is eliminated. Problems of unanticipated repair, eviction, payoff of superior loan(s), possible IRS redemption and inadequate research can present formidable obstacles to the inexperienced buyer.

4. REO Lender

When a trustee's sale is held with no bidder present, the property is said to be "sold" to the foreclosing lender. The REO lender usually will sell the property rather than retain the property as part of the lender's non-performing assets. If no one buys the property at a Trustee Sale, the mortgage holder becomes the owner of the home. These are called "REOs." or Real Estate Owned (It's possible that a homeowner could also tender the deed due to an inability to pay.) The bank is now selling the property with the intention of getting the loan amount out of the sale. The bank specializes in lending money for home loans not the disposition of assets. Of course the bank wants to maximize the amount of the sale, but given the speed at which the bank wants to recover their money, many times REO properties for sale will be sold at discounted prices.

5. Friendly Junior Note

The fifth way to buy foreclosures is just a bit more complex but is an attractive way to acquire properties with less competition than purchasing at the trustee's sale. If the holder of the junior loan to the foreclosing loan agrees to sell his promissory note and trust deed at a substantial discount, the purchaser of the junior loan may cure the underlying senior loans and then foreclose himself on the newly acquired junior loan. The sale of the property through the junior loan can bring immediate return on the face value of the junior loan of the acquisition of the property with attractive equity.

Recommended Books 

  • Buying Real Estate Foreclosures
  • Big Money in Real Estate Foreclosures
  • How to Invest in Real Estate Using Free Money
  • How to Pick Up Foreclosures: Step-By-Step Guide
  • Real Estate on the Brink: Making Money in Distressed Properties

If you would like further information or assistance regarding foreclosure real estate and available foreclosure homes for sale throughout Orange County, please contact us. We can also set up your own custom foreclosure search which will be emailed daily; please complete the form below, and we will get you started right away.

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