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The 10 Best Cities To Buy Bank-Owned Properties

• Mamta Badkar
 One in every four homes sold in the fourth quarter of 2011 was a foreclosed property.

Some of the best deals for buyers in the foreclosure market are real estate owned (REO) properties. These properties are taken over by banks after unsuccessful sales at foreclosure auctions.

We drew on RealtyTrac data to put together a quick guide of the 10 metropolitan areas where homebuyers are getting the best deals on REO sales.

1 Comments in Response to

Comment by Morley Young (46072)
Entered on:

How can someone buy a home as a Bank Owned Real Estate when the servicers and trustee's are the one's who foreclosed? They are not owned by BANKS!...they were already paid!