Ocwen Short Sale-Help!!!!
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 last week saying we need to submit our offer on Hudzo. So now my real estate agent is trying to sign up and post on it. I feel like this is starting over??? Why do we need to do this now? We knew it was going to take a while and we are okay with that. But what happens now we have to bid on something we already offered on?? Does anyone have any experience or advice on what happens now???
Thanks
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 last week saying we need to submit our offer on Hudzo. So now my real estate agent is trying to sign up and post on it. I feel like this is starting over??? Why do we need to do this now? We knew it was going to take a while and we are okay with that. But what happens now we have to bid on something we already offered on?? Does anyone have any experience or advice on what happens now???
Thanks
Comment
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Comment by DON BUSH on February 9, 2015 at 6:21am
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OCWEN/HUBZU is a mess. Our experience, no one would bid. They sent offers directly to us.
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Comment by Short Sale Superstars LLC on January 28, 2015 at 12:42pm
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I'd be asking your broker how many times they have worked on a short sale through Hubzu as I don't see how they can guarantee your position. If no one else could bid on it, it would make no sense for them to put it up on the auction site.
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Comment by Heather on January 28, 2015 at 12:40pm
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The real estate broker assured me it will be put on as "under agreement" so no one else will bid on it.
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The file is going to go to an online auction. Your offer needs to be registered for the auction. Any other bidders will have to pay a premium. If a buyer comes in above your offer they will be chosen for review. You will want to have the auction monitored.
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