Hi everyone,
We put a offer in on a short sale. It was submitted to the bank in October. There is two mortgages from what I know. Ocwen is the second holder from what we know. We were told in Novemeber that we would know in 10 days as it was submitted to the lender for final approval. Since then they have requested more paperwork from the sellers and we were told around Christmas time it was now in review for another 30'days. There is a attorney working with the sellers. We got a phone call alomst 3 week ago saying we need to submit our offer on Hudzo. So now my real estate agent is trying to sign up and post on it. Now she has been waiting almost 3 weeks and they haven't given her instructions how to post it. Meanwhile the house got broken into last week and copper pipes were stolen out of basement. The sellers homeowners doesn't cover theft. We have been ready to close for 2 months. I feel like this is becoming a waste of time. But we really like the house. We are okay with waiting but feel like we are starting over now that it has to be posted on Hudzo. Help!!! Don't knownwhat to do! From what I know this Ocwen bank is not good.

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Replies to This Discussion

Ocwen likely is in 1st posistion if they are requiring the file to be placed on Hubzu. Hubzu is an online auction platform. Ensure your agent registers you for the auction and monitors it if you are interested in still acquiring the property. Potential bidders will have a 5% premium that the original buyer(s) under review with the mortgage servicer will not have to pay if registered. This will give the original buyer an edge on the bidders.

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Thanks! How long does this process take after it gets posted on Hubzo?



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