VARbuzz: Ally, Wells Fargo offer best foreclosure deals
If you want to buy a foreclosed home, Ally is your best bet. That’s the finding of RealtyTrac, which looked at several indicators — price and time on market, most notably.
The Press-Enterprise (a California newspaper) reported the findings. Ally tops the list for it’s highly discounted prices (an average of 60 percent below value) and quick turnaround (an average sale takes 104 days).
Then comes Wells Fargo, CitiGroup, and Uncle Sam. Yep, the U.S. government — Fannie Mae, Freddie Mac, and the FHA — gives better deals than either JP Morgan Chase or Bank of America, the final two lenders on the list.