Hi Just joined today.
Wanted to share this with everyone. I had a winning bid over the BPO amount on auction.com. (BPO was 180,000 Winning bid was 199,900.) It was not accepted. I called and called and never got anywhere with anyone. Finally I had a rep in the Short Sale dept at Nationstar tell me the reason the bid was not accepted is because the highest bid that came in was 130,000. They said every bid after that was made by Nation star as a ghost bid.
Just FYI for everyone out there dealing with Auciton.com and Nationstar
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Totally not a surprise. The lender has always been able to bid and take the property back at a foreclosure sale, however, I have NOT seen this in a short sale. I think we all know that the lender is trying to get top dollar for these properties, but at whose expense? If this property ended up in foreclosure the homeowner should file suit. They are rigging the pricing instead of looking at the appraisal or BPO that was done. Why hire someone to do the valuation if you're just going to ignore and try to bid up the property anyways?
NS and Ocwen are awful these days.