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
$5,000,000 - $7,500,000
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$6,795,000
 

89 Canyon Creek, Irvine

6 Beds, 11 Baths, 11.4k SqFt
Welcome home to the exclusive golf preserve of Shady Canyon, and to a faithful interpretation of a Tuscan Villa complete with a tower reminiscent of those of San Gimignano. The artistic blending of old world elegance with contemporary luxuries created this masterpiece. Situated on a commanding elevated corner lot, the architect's vision has been executed brilliantly by the very best craftsmen employing time-honored techniques while utilizing the
$2,695,000
 

29835 Hidden Creek Drive, San Juan Capistrano

9 Beds, 11 Baths, 9,320 SqFt
Photos and description removed before cancellation due to foreclosure.
$2,275,000
 

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. Mr. Blake’s vision remains the same, with two expansive viewing decks overlooking iconic Victoria Beach. A newly renovated, open concept kitchen- family room, with custom cabinetry, quartz counters, and center- island capped with stainless steel is a subtle blend of neutral tones, allowing the views to take center stage.
$1,875,000
 

1 Moonlight Isle, Ladera Ranch

6 Beds, 6 Baths, 5,750 SqFt
Set in the guard gated community of Covenant Hills, this palatial residence offers privacy, quality finishes and convenient access to major freeways, shopping and dining centers. The home itself is a masterpiece of quality and style, with its beautiful stone façade, endless travertine patios and wrought iron balconies. A sweeping staircase, all new hardwood floors and a separate dining room with a butler’s pantry give the home an impressive,
$1,479,000
 

31471 West Street, Laguna Beach

2 Beds, 1 Bath, 1,416 SqFt
This is a unique investor opportunity in fantastic city of Laguna Beach!
$1,200,000
 

22881 Driftstone, Mission Viejo

5 Beds, 4 Baths, 3,556 SqFt
Ideally located on a private cul de sac within the gated Stoneridge community, this handsome Spanish home is a perfect fit for either a multi- generational or busy working family. With two bedrooms downstairs at separate ends of the house, there’s ample room to customize for your individual needs. The two story living room is wrapped with gallery style hallways above. A huge, open concept kitchen/family room, with fireplace, breakfast nook and
$1,125,000
 

23 Calle Saltamontes, San Clemente

4 Beds, 4 Baths, 3,069 SqFt
BACK ON MARKET!!! EXQUISITE TALEGA POOL HOME IN THE BEAUTIFUL TRACT OF SANSOL! THIS HOME BOASTS 4 BEDROOMS 4 BATHS WITH COMPLETE PRIVACY!! THE HOME HAS WOOD FLOORS, GRANITE COUNTERS, WHITE CABINETRY, STAINLESS STEEL APPLIANCES, ENTERTAINMENT BUILT INS , SHUTTERS,PRIVATE POOL,( with child safety net as well as alarm for doors) SPA AND BUILT IN STONE BARBECUE AREA . 4 LARGE BEDROOMS UPSTAIRS AND A JACK AND JILL BATHROOM WITH DUAL SINKS, 3 CAR
$999,000
 

27941 Rural Lane, Laguna Niguel

5 Beds, 3 Baths, 2,410 SqFt
Sitting on an elevated lot, with no home behind you and mountain and sunset views from the Master bedroom, this home will not disappoint. A gracious entry reveals soaring ceilings, circular staircase, and a terrific, open floor plan. The kitchen/family room has a center island and fireplace flanked by handsome bookcases. A downstairs bedroom and bath are perfect for extended family. Don't forget to open the "secret" door in the laundry
$979,900
 

27041 S Ridge Drive, Mission Viejo

3 Beds, 4 Baths, 3,504 SqFt
This lovely suburban home is located nearly in the heart of Mission Viejo CA. In less than 5 minutes residents can reach shopping centers with multiple grocery stores, restaurants, cafes and more. The neighborhood is beautiful and pleasant with manicured yards, sidewalks and large streets for visitors and guests. The home features a two-door and one- door garage allowing for plenty of space for vehicles, workshop or storage. Enjoy the pool on
$949,900
 

11 Bedstraw Loop, Ladera Ranch

4 Beds, 3 Baths, 3,139 SqFt
WELCOME HOME! Inarguably the most coveted location in the neighborhood. Preferentially located on a prime elevated parcel,the largest most desired plan in the popular Claiborne tract, situated adjacent to a tranquil meditation park. Spectacular views from the third level balcony of the entire neighborhood, the hills with their magnificent sunsets and magical moon risings including a peek a boo OCEAN VIEW. Very functional plan 4, optional 5
$923,000
 

1675 New Hampshire Drive, Costa Mesa

4 Beds, 3 Baths, 2,063 SqFt
Your family will love this spacious, remodeled two-story beauty, in the desirable State Streets area of Mesa Verde. This home was significantly rebuilt ten years ago, to approximately double its original size. The roomy, open kitchen is an entertaining cook's dream, with a JennAir professional cooktop, dual ovens and warming drawer. The kitchen and dining room both open into a large living room, with soaring cathedral ceilings. One bedroom
$881,900
 

611 Calle Campana, San Clemente

8 Beds, 7 Baths, 3,680 SqFt
Welcome home landlords to the city of San Clemente and to the opportunity to own one of the rare fourplexes in this Coastal Resort. The city is home to the former Western White House, great surfing, and perhaps the center of the media world for surfing magazine publishing. This Four-Unit Two Story property features one 3 bedroom two bath unit, two 2 bedroom 2 bath units, and one 1 bedroom 1 bathroom unit. Other features include a community
$830,000
 

2 Via Ceramica, San Clemente

4 Beds, 3 Baths, 2,400 SqFt
APPROVED SHORT SALE AT THIS PRICE, NO WAITING. Lovely upgraded Talega home by Standard Pacific, with dramatic and panoramic views. The home is located at the end of a cul-de-sac, with only one neighboring home on one side. The open floor plan features a kitchen with Thermador appliances, a spacious master suite, and a downstairs bedroom and bathroom--providing guest privacy or a perfect space for a home office. A 15-panel solar system is
$799,000
 

25922 Pasofino, Laguna Niguel

4 Beds, 3 Baths, 1,965 SqFt
WHERE ELSE CAN YOU FIND A 4 BEDROOM SINGLE FAMILY HOME AT THE END OF A CUL-DE-SAC ON A LARGE LOT IN A GREAT NEIGHBORHOOD? THIS IS AN ABSOLUTE GEM. THIS HOME IS HAS 4 FULL BEDROOMS (ALL UPSTAIRS) AND A LARGE YARD, LARGE GARAGE WITH STORAGE, AN RV SIZED SIDE YARD WITH AVAILABLE EXTRA STREET PARKING, PLENTY OF ROOM FOR A POOL OR DESIGN YOUR ADU (AUXILIARY DWELLING UNIT) COMMONLY KNOWN AS A CASITA, OR IN-LAWS QUARTERS. ENJOY THE END OF THE
$719,900
 

26 Paulownia, Rancho Santa Margarita

4 Beds, 3 Baths, 1,752 SqFt
Bank-owned property! Excellent location, 4 bedrooms, 2 1/2 baths, in Montecito tract. Some repairs required-flooring, paint. Tremendous potential. Some custom added windows, partially hardscaped rear yard with partially completed BBQ island including Jennaire Grill, sink, cabinets, refrigerator. Large portable spa, firepit, raised retreat area, extensive brickwork. 1/2 bath downstairs, Master plus guest baths upstairs. Partial wood flooring.
$649,000
 

22121 Padova, Laguna Hills

4 Beds, 2 Baths, 1,366 SqFt
Laguna Hills Single Family Home with no HOA! Enjoy the cool breezes at this 4 Bedroom home nestled on a quiet cul-de-sac street. Double door entry leads into living room with cozy fireplace and tile flooring throughout. Roof is just a few years old, this home has good bones, it just needs some TLC....FIX & SAVE! Laguna Terrace community is conveniently located near schools, parks, freeways and Irvine Spectrum. Don't miss out on this
$613,740
 

11 Dunn Street, Laguna Niguel

2 Beds, 3 Baths, 1,253 SqFt
Built in 1986, this charming townhome features two bedrooms and 2 1/2 baths with upgraded granite counters and bamboo wood flooring. Two car attached garage. Rear patio. Living room entrance with dining combo. Kitchen with plenty of cabinet space. Office/loft area. Damaged exterior electrical cabinet.
$416,000
 

13662 Red Hill Avenue F, Tustin

4 Beds, 3 Baths, 1,353 SqFt
TUSTIN VILLAS CONDOMINIUM WITH 4 UPSTAIRS BEDROOMS, 1.75 UPSTAIRS BATHROOMS AND A 1/2 DOWNSTAIRS GUEST BATHROOM. LIVING ROOM WITH BRICK FIREPLACE WHICH OPENS TO KITCHEN WITH EAT IN AREA. PATIO WITH LAUNDRY CLOSET THAT HOUSES WASHER, DRYER AND WATER HEATER. DIRECT ACCESS TO THE 2 CAR GARAGE THROUGH PATIO. DESIRABLE END UNIT, ONE COMMON WALL. NEEDS SOME TLC. CENTRALLY LOCATED.
$394,000
 

13 Baya, Rancho Santa Margarita

2 Beds, 2 Baths, 1,000 SqFt
Charming 2 bedroom, 2 bathroom condo with 1 car garage and 1 carport. Located in La Ventana community built in 1990. This property features a fireplace and vaulted ceilings.

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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