Hubzu has been at the forefront of helping servicers handle default inventory since 2009 and has helped manage and sell over 225,000 residential assets with 2,500+ short sales for servicers and their borrowers.
In 2020, building onto its short sale offering, Hubzu launched its Signature Seller Assisted Sales program that helps borrowers who are in default — no matter whether they are in an active forbearance program or if they do or do not have substantial equity in their home — quickly market and sell their home to gracefully exit the default process before foreclosure is necessary.
Hubzu partners with servicers and they, in turn, engage borrowers early in the delinquency timeline. The servicers and Hubzu work together to educate and guide the borrower on the sales strategies best to maximize sales price with an expedited marketing period.
Often, this partnership among the servicer, Hubzu and the borrower can run in parallel to other loss mitigation strategies that the servicer would introduce. Borrowers selling through Hubzu also have the option to sell with a lease-back requirement that allows them to exit default but stay in the property during the period of the lease with the new owner.