If you spend any amount of time searching for bank owned properties then you are probably familiar with the HUBZU website which is owned by Altisource.
Anyone can register to bid on HUBZU. Unfortunately there are way too many beginners bidding on properties without having a good understanding of pricing in their market or the ability to pay.
We just received notice that as of today, Hubzu is requiring deposits on a credit card of $1,000 for any bid that is accepted.
We welcome this change since it will get rid of all of the “wannabe” investors and make bidding on HUBZU a better process for everyone involved.