Hi All,

I have a short sale listing in Minnesota and the bank that I am working with (Selene Finance) and they have hired Meridian Asset Services to help negotiate the offer when one comes in.  I find out that either Selene or Meridian hired another company to break in to my listing knowing full well that it was secure and that utilities were still being paid for by the sellers.  The property is vacant.  This company drilled through the deadbolt, cut off my lockbox, and changed the lock on the front door. 

A representative from Meridian is also calling each of my sellers on a daily basis and telling them to cancel the listing contract with me and that she has another realtor lined up to take over. 

There has been no sheriff's sale yet so it is not bank owned.

Any suggestions on what I or my sellers can do about this?  I have reported the breaking and entering to the sheriff so far but I want to do more and so do my sellers.  This is such unethical behavior I just can't stand it and want to fight back.  Please offer any suggestions!

Thanks,

Carolyn

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It has been a problem in Florida with the banks securing the assets.  had one that was burlarized by the property preservation company and we reported it, found everything at the Pawn shop and 3 guys went to jail.

I believe that the lender does have the right to secure the property, doesn't make sense to secure it if it is already secured. Problem is that the property preservation company is not going to report that it is secure and lose money by telling them the house is vacant but secure.  Sad to say.

As for the company trying to get your seller to fire you and hire someone else, find out who is doing this and report them to Selene Finance immediately.

One of my biggest contentions!!!

When there is an opportunity to make money because of bad situations, out comes the vultures!! lender issues order to

"bank preservation contractor"! This company, finds what ever items they can charge lender, and  yes ironically things disappear (vandilsm) , but preservation company issues report. (Shame on all of us REALTORS who do no inspect their properties on a weekly basis) So.. now new locks, things missing?

The sad part is most mortgage notes contain a provision for this! So if the lender exersizes their right to enter the property to secure the property they can. There are good and "crook" Preservation companies! Another bad part, is there are agents that "overlook this type of behavior, maybe for a nice Fridge, washer dryer, etc! This was happening in 1992 , it is just part of the new cycle!  Ya know, my new motto, Been There, seen it, do not want the T-shirt!!!  I'm not sure reporting these companies will help! It probably goes so very deep it's not worth trying to fight! Nobody will listen!

The fox watching the henhouse.......
I am so annoyed by this fox.  They keep calling my clients and harrassing them.  I have never seen anything this abismal and unethical before.  They need to be stopped!  But how???

Rob Carrino said:
The fox watching the henhouse.......

What did the police say about them breaking in and changing the locks?  Did they actually cut your lock box off?  Why would they do that if they are changing the locks anyway?   I have been lucky, have only lost one electronic lock box, of course the property preservation company denied that there was a lock box on the door.

Who is telling your seller to fire you?  Selene Finance?

Carolyn Lien said:

I am so annoyed by this fox.  They keep calling my clients and harrassing them.  I have never seen anything this abismal and unethical before.  They need to be stopped!  But how???

Rob Carrino said:
The fox watching the henhouse.......

Hi Jeff,

The sheriff sent the complaint to the district attorney for them to decide whether to press charges or not. Not sure if they cut it off but it is missing and a new lock is on the door. There is a plate over the spot where they drilled out the deadbolt.  Both Selene Finance and an asset specialist from Meridian Asset Services have been calling my clients every day and telling them to cancel the listing contract with me.  They have even gone so far as to tell them I don't know what I am doing and that the sheriffs sale was held two weeks ago but I have visual confirmation from Carver County that the sheriffs sale is not scheduled until July 29th at 10am.  I have give both of the sellers a copy of this and kept them in the loop at all times but Mr. Seller has a traumatic brain injury and gets riled up very easily and doesn't understand as well gets confused easily.  I feel that they are really trying to take advantage of him.  Mrs. Seller gets it and wants to keep me as their realtor to protect their interests.   I am reporting this to the attorney general but don't know what else to do.  If anyone has any suggestions, please advise.  This is very unethical on thier part not to mention harassment.

Jeff Payne said:

What did the police say about them breaking in and changing the locks?  Did they actually cut your lock box off?  Why would they do that if they are changing the locks anyway?   I have been lucky, have only lost one electronic lock box, of course the property preservation company denied that there was a lock box on the door.

Who is telling your seller to fire you?  Selene Finance?

Carolyn Lien said:

I am so annoyed by this fox.  They keep calling my clients and harrassing them.  I have never seen anything this abismal and unethical before.  They need to be stopped!  But how???

Rob Carrino said:
The fox watching the henhouse.......
This stream is unreal..I am in the Palm Springs area of California.  I have not seen nor heard of this, but I'm sure it's going on.  What are the BANKSTERS thinking???  They are in such a crazy position of power that they trounce on the rights of people and nobody steps in???  Makes me furious!

Hi Kimberley,

It gets even better.  Today Selene Finance called my one seller and emailed the other and offered them each $1000 to cancel the listing with me and give it to one of their preferred realtors.  And just 15 minutes ago a guy from the property preservation company called me and requested to go inside to check the property and apologized to me for any inconvenience that they may have caused me.  I asked him if the bank requested the locks to be drilled out and changed and he said yes.  By the way, Mrs. Seller declined the $1000.  She wants me as their realtor.  Integrity, ethics, and values do win out but who knows what tomorrow will bring.

Kimberley Kelly said:

This stream is unreal..I am in the Palm Springs area of California.  I have not seen nor heard of this, but I'm sure it's going on.  What are the BANKSTERS thinking???  They are in such a crazy position of power that they trounce on the rights of people and nobody steps in???  Makes me furious!
I'm putting this out in the newsletter today
The bank does have the right to secure the property (it's buried somewhere in the myriad of documents the homeowners signed when they bought the house).  They do it on my short sales all the time the minute they find out the property is vacant.  I've never heard of the bank calling the seller and telling them to drop their listing.  It is still the seller's property and they have the right to use whomever they want to list their property.  I would contact the Consumer Affairs division in your county.  Where I live in NJ, the Burlington County Sheriff is actually pretty helpful to homeowners.  They have mediators who will help clients negotiate with the bank (in cases where the homeowner wants to stay in the house) or defend clients where they are being bullied.  Look into that avenue.  That sounds a bit outrageous.

Carolyn, We have had this issue in Ohio, we had one where the company that the bank hired climed into a window and started changing locks and removing some of the sellers possessions, I called our attorney his advice to the seller was to call the police and file a breaking an entering report and to press it with the prosecutor.  The funny part, if there is a funny part, was that the seller was coming to the house to check it and watched all of this going on, the guy the bank hired lied and said that the door was unlocked and that is how he got in.  The best part is the seller had pictures on his cell phone.  Busted...

   If the bank has not foreclosed and got the house back at the sheriff sale they have no right to the property until that happens. Have your seller file a police report.

Seems to me that you should contact the Attorney Generals office in your state. Here in Missouri, you can find a form on-line. Just tell it like it is, including all the information you have. They do respond and if they are not going to handle it, they will recommend who you should be talking with. It's a shameless way to handle a situation when people are having such tough times. Wishing you & your client success.

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