- Report: #1257900
Complaint Review: Hubzu - Nationwide
-
Author Confirmed
Why?
Hubzu
Nationwide, USA
Web:
www.hubzu.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Hubzu Ocwen, Altisource, Premium Title Hubzu Real Estate Scam Nationwide
There is a shady on-line auction company known as Hubzu that specializes in real estate short sales and foreclosures. They are a subsidiary of Altisource, which also operates as OWCEN, in conjunction with an in-house title compay (Premium Title), and various in-house real esate brokerages, such as Real Home Services and Solutions. Did I say they were shady? Well, that is an understatement.
The list of abuses is long, but here are two recent examples that occurred in Florida that should give you the gist.
Example 1. Hubzu advertised a property on the Florida Brevard County MLS as a house and three adjacent lots, with a link to the county tax assessor identifying the house and three lots. After the closing, I discovered that Altisource had deeded me the house, and not the three lots. I further found that the seller did not even own the three lots. They refused to compensate me on the grounds that I had signed a Hold Harmless waiver in the purchase & sales contract. This is the blanket statement that they believe protects them against their misrepresentations and other scams.
Example 2. I was the winning bidder on a home in May of 2014. When we were ready to close, I discovered a lien against the property that Hubzu/Altisource had not revealed. I asked them to resolve the lien, and they threatened to cancel the sale. After some back and forth, they agreed to investigate. For most of the next year, they did not nothing to resolve the lien until I contacted the lien holder. Ultimately, it took almost a year to get the lien released.
While the house sat waiting for the lean to be resolved, the house was vandalized and fell into disrepair. After closing, I found that all of the wiring had been torn from the attic. The entire house had to be rewired. Hubzu would not take resonsibility.
I am pursuing legal action (civil and criminal) against them, and would be interested in hearing about other Hubzu experiences.
1 Updates & Rebuttals
Hubzu matter resolved
#2Author of original report
Sat, November 14, 2015
This is a follow up report to a report I filed about Hubzu on September 29. The matter with Hubzu has been amicably resolved. I had stated previously that Hubzu, and its parent company Altisource, had contracted to sell me a home with three empty lots, but had deeded me only the home without the lots. While that is true, the company has since compensated me for the three lots in an amount that reflects the fair market of those lots.
