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Report: #1326290

Complaint Review: Selene Finance - Internet

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  • Reported By: Doug — Orem Utah USA
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  • Selene Finance Internet USA

Selene Finance New Fraud Scam Internet

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LATEST MORTGAGE SCAM AN OPEN LETTER TO VICTIMS OF MORTGAGE FRAUD Doug Lyman We have all heard the old adage “Possession is nine-tenths of the law”, an expression meaning that ownership is easier to maintain if one has possession of something, or difficult to enforce if one does not. It appears that the large banks latest foreclosure fraud scheme is foreclose without notice and immediately evict and take possession of the property.

How do they do it? First they to post notices on the home stating that the home will be sold at auction on a certain date. They also go so far as to post notices in local papers and or on line publications. Some have even listed the property for sale with on line services such as zillow.com, all of this without ever recording a NOTICE OF SALE with the County Recorder as required by law. This creates the appearance that they have complied with the law deceiving homeowners, public and even the courts in to thinking that the house has gone through foreclosure. Then on the specified sale date they will execute a bogus “back alley” sale, transfer or assignment to a new party, typically a wholly-owned subsidiary or trust under their control thus avoiding the risk of having a real “new owner” discover that they have purchased “stolen merchandise”. They find a shady title company who will issue a new deed and bingo! the house has been sold.

Such is the case with us. We were in process of a loan modification with Bank of America, when midstream, and after resuming payments, the loan servicing was transferred to Selene Finance. Selene informed us that they would not honor our modification and we would have to re-apply under Selene's modification program all the while assuring us that our home would be safe pending review of our documents. They then turned around and “sold” our home anyway. To buy time and avoid detection, they stopped taking our calls few days before and after the sale date. About a week after the sale, Selene told us that our home had been sold at foreclosure. We immediately met with two separate attorney's who offered free consultations. Both claimed that the sale could easily be voided due to the fact that a NOTICE OF SALE had not been recorded in accordance with Utah law. Aldridge and Pite, the attorneys for Wilmington and Orange Title Co. had acted improperly by not recording a notice of sale. But it gets better!!! Wilmington's attorney, Aldridge and Pite, proceeded to post at a five-day notice to vacate!

The strategy appears to be to quickly evict and take possession before the fraud can come to trial. (phone conversation with Spencer McDonald). Not wanting to abandon the home we have lived in for nearly 17 years, we decided to dig in and research our remedies. We found numerous cases of similar situations where attorneys in bed with title companies and large banks formulate strategies under the color of law to deceive homeowners and even judges into thinking that a home has been foreclosed. We checked the Utah County website and discovered that our home had not been foreclosed but had in fact been illegally sold without any a notice of sale ever being recorded. Suspiciously absent from Orange Title Insurance Agency, Inc's. TRUSTEE'S DEED was any mention of NOTICE OF SALE being recorded with Utah County. In a telephone conversation with Spencer McDonald of Aldridge and Pite He stated twice that the property had been foreclosed. During our conversation he even pulled up the abstract on the property. You can even do this for yourself!!! The property serial # is 18:001:0027.

He lied!! It is apparent to me that this problem is systemic. Judges tend to favor plaintiffs arguments as long as they can provide reasonable documentation upon which the court can rely to ascertain true ownership. In our phone conversation the attorney Spencer McDonald even admits that the procedural process for eviction allows the “bogus owner” to gain possession of the property well before the matter can go before a jury. An unsuspecting judge would not dream that an licensed attorney or title company on behalf of a bank would submit documents to purposefully circumvent the legal process. By using this strategy of expedited eviction they can take possession of the property, change the locks, and more fully assert ownership of the property often without any of the parties being the wiser.

It then becomes an uphill battle for the homeowner to assert his claims. A transcript of my phone conversation is available upon request. The attorney's should be sanctioned and/or dis-barred. The title company soul loose it's license and the banks should be penalized enough to insure that they do not continue this practice. If this is happening to you please feel free to contact me . douglaslyman@hotmail.com. You do have recourse. A good attorney can require as much as a $3,000 retainer (what we were quoted) . By the way, if you have the means to hire an attorney make sure you get one who has a history of standing up to these, corrupt bankers, attorneys and title companies. Avoid those who more concerned with their paycheck than helping you resolve your claims. Often many of them will essentially “roll over” avoiding any real work on your behalf.

Good luck and may God bless . Douglas Lyman We have come to find out that Selene Finance is also a loan servicer for Wilmington Savings Bank Society of Delaware. (who would have guessed). Selene Finance with a incredibly poor track record and numerous customer service complaints essentially acts as the hatchet man for large banks with deep pockets. This allows these big banks to avoid the legal sanctions and the media attention that has followed them for their “robo signing” and illegal foreclosure practices directing the attention to small second rate companies that can more easily “throw caution to the wind” with a minimized risk of exposure. Aldridge and Pite is the successor to the now defunct Pite Duncan. Pite Duncan was one of Bank of Americas attorneys. Orange Title Company not only shares the same building as Aldridge and Pite, but the same office. Please share this with anyone you know facing the same or similar circumstances.

This report was posted on Ripoff Report on 09/03/2016 10:24 PM and is a permanent record located here: https://www.ripoffreport.com/reports/selene-finance/internet/selene-finance-new-fraud-scam-internet-1326290. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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