Pre-foreclosure sales (typically short sales) increased to a three-year high in the first quarter of 2012 even as the average pre-foreclosure sales price reached a record low — making 2012 a prime time to purchase a short sale. But the process of buying a short sale and the discounts available can vary widely based on the lender/servicer/investor involved in approving the sale. Some banks are approving short sales more often, more quickly and at lower prices than others. In light of that RealtyTrac has ranked the best major banks to work with when buying a short sale home.
Click the chart below for the August 2012 California Foreclosure Market Trends Report: