• Report: #1129194
Complaint Review:

Hubzu

  • Submitted: Sat, March 08, 2014
  • Updated: Sat, March 08, 2014

  • Reported By: Gayle — Palos Heights Illinois
Hubzu
No physical address Internet USA

Hubzu Altisource Fraudulent Realestate Tactics---Up Bidding Scam CONTINUES! hubzu.com/portal/about-us Internet

*General Comment: Keeping the public up-to-date

*Consumer Comment: I HAD THE SAME EXPERIENCE

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I stumbled onto this site while looking for a home. After doing as much research as possible, I bid on a property listed at $113,000. Near the end of the bid another "bidder" came in at $120000. I then upped my bid to $121000. I "won" the bid however I received a counter back from the "seller" for $160000. Needless to say , I rejected the counter and the property relisted again but this time at $130000. I decide to give it one more try and the same scenerio happened agin with me "winning " the bid at $132000 against one other "bidder". I was then countered again by the seller at .....get this $169000. That's $9000 more then the previous bid. Here's where I began to get suspicious. I noticed that the "bidder" who was bidding against me had the same i.d initials on two other properties in my area which had similar up biddings and relistings. The pattern was the same. A bid would be made by someone legitimate. It would then be BID UP by the other bidder and then the ghost bidder would suddenly drop off. It always stated at the end that the reserve was not met and a counter was then made to the blindsided winning bid. The properties ALWAYS relist higher and the counter offers are always higher then before. This is a pure FRAUD. This company is driving up the price under the guise of legitamcy. Any class action against this sham company should be put in high gear. Count me in.


This report was posted on Ripoff Report on 03/08/2014 06:28 AM and is a permanent record located here: http://www.ripoffreport.com/reports/hubzu/internet/hubzu-altisource-fraudulent-realestate-tactics-up-bidding-scam-continues-hubzucompor-1129194. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 General Comment

Keeping the public up-to-date

AUTHOR: Roger - (USA)

I am posting this response to this thread in order to keep the information as current as possible, since the internet never purges out-dated info.  Hubzu, Ocwen, Alti-Source, Duetsche Bank are most definitely still up to these tricks - our house was just in an auction on Hubzu and the same 'ghost' up-bidder pattern played out in the same fashion. 

Unlike most of the scenarios reported, however, we are not attempting to buy a home through their site, but rather, we still live in our home and are in active litigation against Duetsche/Ocwen.  They excluded our current attorney from their filings and last year they secured the certificate of title on the mortgage through illegal procedure.  We have a court hearing next month, but there is absolutely no mention of any of this in the auction - in fact, because of the scheduled hearing, they don't even have the legal authority to offer the property for sale. We have been standing our ground for 8 years now and they are still trying to circumvent the proper channels and scam more unsuspecting homeowners and buyers.

Their actions are too long-standing and egregious for advocacy groups and governmental oversight agencies to not be aware of them, so how is it possible that these entities are able and allowed to continue with the same fraud and deception year after year with no accountability or repercussion?  Proof that at some level, as always, corruption and greed are dictating policy and (non)action.   And they wonder why good people finally snap.

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#2 Consumer Comment

I HAD THE SAME EXPERIENCE

AUTHOR: concerned - (USA)

I had this exact same experience several times over and I felt the same way - that these were fake-o bidders, because the minute I was the winning bidder, the other bidder was gone - poof - no more bidder, just me.

I would like to see an attorney do a discovery on the supposed bidders.  I think they are fake by the behavior and timing.

 

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