Hubzu.com financing problems, please help!

Asked by Jason Childs, Washington, PA Mon May 13, 2013

I want to make an offer on a property that is for sale on hubzu.com, but they only consider cash and conventional loans. I don't have the cash on hand for the down payment required by a conventional loan, but I could do a USDA loan immediately. I am just afraid the house will sell before I can save up the down payment. Is there any way to work around this? Thanks

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4
donna1swaffo…, Renter, Pickens, SC
Tue Sep 24, 2013
call 911,3605980,8785111,2952327
0 votes
docwild1, Both Buyer And Seller, Columbia, SC
Fri Aug 16, 2013
You will need a lot of luck because Hubzu won't help with anything, an agent won't add anything because Hubzu refuses to communicate.
0 votes
Sheri Sanders, Agent, Easley, SC
Mon May 13, 2013
I agree with Jessica. If you do not have a buyer's agent then please do get one as they will be working for you.

Sheri Sanders
Prudential C Dan Joyner Co Realtors
1909 E Main St
Easley, SC 29640
Sheri@TheSandersEdge.com
0 votes
Jessica Tracy, Agent, North Windham, CT
Mon May 13, 2013
The reasoning behind Hubzu only accepting cash or conventional is most likely due to the property not going to be able to pass an inspection for your government loan. Because you have chosen to go USDA with 100% financing, it is going to limit you on what type of property you can buy. I would consider hiring a Realtor so that they can go over all of the requirement with you and find you a house that you are able to buy so you are not wasting your time looking at houses that your loan will not let you buy.

Good luck with your home purchase,
Jessica Tracy
CG Real Estate
0 votes
Hiring a Realtor won't help. Hubzu is run out of India, is part of Ocwen bank, and was formerly known as Altisource. Ocwen has been has a judgement (Dec 19, 2013) against them for misconduct for mortgage servicing. You can read further at: http://www.bbb.org/central-florida/business-reviews/loan-servicing/ocwen-loan-servicing-in-orlando-fl-13002055. At some point, the groups that have been injured by this 'company' need to file a class action suite againt the owners. DON'T DO BUSINESS WITH ANY OF THEM!
Flag Tue Mar 25, 2014
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