So did you have a SHORT SALE listing TAKEN OVER by Auction.com or HUBZU? Sign the petition.

So did you have a SHORT SALE listing TAKEN OVER by Auction.com or HUBZU?  Sign the petition.

changeAgents are angry.  It’s not just me, and the amount of liability around a short sale on a GOOD day is tough.  Now let’s just take the fact the servicer (Nationstar or Ocwen) is forcing the homeowner to put their ALREADY UNDER CONTRACT property up on Auction.com or HUBZU to get additional higher offers….well, in my opinion, it’s downright illegal and it seems that there’s nothing anyone can do about it.  If you haven’t already read my article on the topic, you may not know what the fuss is about, but if you are an agent, attorney, negotiator, title company or third party, that negotiates short sales for a living, then you KNOW that there is a huge gain to be made by Nationstar and Ocwen if they continue on this path and what seems like very tough times ahead for short sale homeowners who want to get out of their situation in the speediest manner, because there is NOTHING about Auction.com or Hubzu that is quick.  In fact, it seems like they can just do what they want.  Even if you are doing a HAFA short sale, they seem to be able to bypass the fact that they don’t need to allow the homeowner to know the MNP (minimum net proceeds)after the homeowner applies. They also follow NONE of the servicing guideline set forth by the treasury, but let’s face it, those of us in the know, realize, they are just GUIDELINES.

A petition has been formed by an agent who had had enough.  I commend her and signed this petition and I urge EVERY agent getting this newsletter to do the same, whether you negotiate a lot of short sales or not.  We need to ban together to stop servicer insanity and actually streamline the process for short sales for all homeowners http://www.change.org/petitions/nationstar-mortgage-stop-violating-distressed-homeowner-rights-and-allow-them-to-opt-out-of-the-auction-com-process

Please use the link above and take under 3 minutes to sign the petition for this to be reviewed.  THANK YOU!

 

 

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