Buying bank home foreclosures for sale is a long standing trend in the real estate industry as numerous people see the exercise as a wise manner of investing.
Despite declining prices of homes in Santa Cruz County, including existing houses and bank foreclosures like Wachovia home foreclosures, buyers are still reluctant to purchase.
A total of 19 banks were closed in March due to their huge losses from bad commercial loans and from record numbers of bank home foreclosures for sale. Advanta Bank, with $.1 billion in total assets and deposits, was the biggest of the 19 failed banks.
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