Banks hiring contractors to break in to listings

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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Permalink Reply by Jilly on July 25, 2011 at 5:58pm

Hey Carolyn,

Are you sure that Selene Finance is the bank holding the mortgage, and that they hired anyone to negotiate? Also, if Selene is just the servicer, then the investor (owner) may be interested to know the goings on. When I google Meredian and Selene, both have multiple entries. Just a thought. Good Luck sifting through the grime.

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Permalink Reply by Ryan S. Carrigan, J.D. on August 4, 2011 at 6:45pm

happens all the time here in socal! in fact today I went to one listing we have in escrow that is vacant and under BOFA and they hired a "company" to keep the place secure (since then it has been broken into 3 times and the grass is out of control) I showed the p-roperty for a bpo two days ago and yesterday I saw a company WSR (from riverside california) came out of the property and they said they were the company hired by BOFA to secure the property. today i show the property to the buyer's agent and I notice that all the ceiling fans and hallway lights are gone and replaced with $3 lightbulb fixtures with a string turn on. that was not like that two days ago, WSR says no comment and that they are only doing what BOFA asks them to. they do this and change the locks and fixtures ALL the time out here.

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Permalink Reply by Steven J. Pahl on August 6, 2011 at 9:38pm

This is one reason I never put my lock box on the doorknob of short sales, always on a railing or hose bib away from the front door. Once I have had this happen when the home was still owner occupied.

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Permalink Reply by Woody Edwards on August 6, 2011 at 10:47pm

That is exactly what I do. Go to Lowes or Home Depot, and look in the padlock area. They sell a plastic wrapped chain with loops on the end to put your shackle through, then you can fasten it to a post or railing.....not the door knob.