Banks are speeding up the home foreclosure process in California, according to data out today. But one analyst says the process may start to slow down again.
It took lenders an average of 335 days, or about 11 months to complete the foreclosure process on California properties in the third quarter.
Daren Blomquist with foreclosure listing service RealtyTrac says that was down three percent from the previous quarter and an eight percent drop from a year ago.
"These foreclosures, if they’re going to happen, it’s better that it’s more like a band-aid that you rip off."