All Forum Posts by: Alex Beaver

Sorry, posted this in wrong place reposted to REOs discussion

A Hubzu house was going to be my first leap real estate investing. I signed into a purchase with Hubzu November 11, 2014. Cash offer in Indianapolis and my agent advised to use a local title company. Everything went smoothly until we got to the title work in early December. Now it's almost March and the deal has been extended 3 times and there is no end in sight. We are waiting on one power of attorney form so the title will transfer.

The owner on record is ("Trust" as trustee of "other Trust"). We need the POA for the Trustee. I have talked to multiple title companies, attorneys, and even went to the courthouse. Everyone has told me without this POA the title will not transfer. It seems Altisource is less willing to provide the POA because their in house company Premium Title can issue a policy, but I know the title won't transfer and I may not be able to sell the house in the future. Also it seems 99% of those who deal with them aren't too thrilled.

I've done a whole lot of research and know the Ocwen conglomeration of companies and trusts pretty well. I've been very active in the closing communication and bugging everyone I can think of, but I feel like this may never close.

Anyone have any experience with this sort of title issue?

If Premium Title is the only option what would happen if it won't transfer to me locally?

Any help is much appreciated. 

A Hubzu house was going to be my first leap real estate investing. I signed into a purchase with Hubzu November 11, 2014. Cash offer in Indianapolis and my agent advised to use a local title company. Everything went smoothly until we got to the title work in early December. Now it's almost March and the deal has been extended 3 times and there is no end in sight. We are waiting on one power of attorney form so the title will transfer. 

The owner on record is ("Trust" as trustee of "other Trust"). We need the POA for the Trustee. I have talked to multiple title companies, attorneys, and even went to the courthouse. Everyone has told me without this POA the title will not transfer. It seems Altisource is less willing to provide the POA because their in house company Premium Title can issue a policy, but I know the title won't transfer and I may not be able to sell the house in the future. Also it seems 99% of those who deal with them aren't too thrilled.

I've done a whole lot of research and know the Ocwen conglomeration of companies and trusts pretty well. I've been very active in the closing communication and bugging everyone I can think of, but I feel like this may never close. 

Anyone have any experience with this sort of title issue? 

If Premium Title is the only option what would happen if it won't transfer to me locally? 

Any help is much appreciated.