Replies to This Discussion

Permalink Reply by DIMITRI PETROVSKY on March 17, 2014 at 10:04am

Im fighting one myself right now, not sure whats going to happen, the buyer has gotten really nasty and is already filing court papers for specific performance. The seller cant afford to pay an attorney to go to court to defend himself and its turning ugly. Ocwen makes it sound so trivial that the contract is subject to short sale approval, but when you have investors with deep pockets they can tie up the home like this and it does no good for anyone. Ocwen told me the offer was good based on bpo value and was going for approval. 3 days later they send us this nonsense about hubzu. I wrote everyone at Ocwen and its 2 weeks now and have not received one reply yet.

Permalink Reply by DIMITRI PETROVSKY on March 17, 2014 at 10:53am

had this happen before, they can file the papers and the seller will need to file an answer in order to get heard before a judge. sure the judge will dismiss the case but we are talking about 6 months to a year to get the case heard. Not really helping a distressed out of work homeowner with a vacant property that keeps getting broken in to. Problem is no buyer is going to get clean title with the action pending regardless if its frivolous or not.

Permalink Reply by TOP END Properties on March 20, 2014 at 4:05am

• You can CONTINUE TO SHOW and market a property that is under contract.  However, if a higher offer comes in, the original offer will be declined by the lender and they will accept the new offer.  I doubt the buyer has a case.
• HUBZU really isnt a big deal.  It only lasts 1 week, you keep the same commission, and it's highly unlikely to get a higher offer if you actually marketed the property on the MLS/Online.  I'm not even sure you need to take the MLS off deposit status.