Selene Finance review: mortgage payments 13

Selene has recently added $400 to my mortgage which they say is additional escrow payment. Is this legal I am retired with a fixed income Selene knows I can't afford this and I suppose they are hoping I default so they can take my house. I have submitted several copies of my Insurance declaration page and they still went ahead and took out insurance on my house, so now i pay insurance through my Home Owners Association, and through Selene. I have sent letters explaining this and requesting a reimbursement they have ignored my letters and when I call they have me on hold for hours and then just hang up. I am worried if I will be able to keep my home or will Selene force me out of my home.

why cant we pay on line? we are elderly/disabled and no phone services at present time?

My loan was from Bank Of America to now Seline. Gee! Yes they call continiously if payment isn't made on the first. We have a doublewide land home pkg, and would love to refinance, but have had no luck finding anyone to do it. Good luck everyone!

Carrington sold my mortgage to these people. They harrass me at work and at home. I call and rarely get to speak to a rep. When I get a rep and ask questions about all of the crazy fees I get nno real answer that makes sense.. I also ask why they continue to tell me that I don't have insurance (I do but they say I don't. I faxed the proof twice and had the insurance company fax them. Carrington did the same thing by the way).I am told that they don't have that information, didn't get if from Carrington, and will have to purchase some outrageous expensive insurance.
I am ready to do a short sale to sell my home and walk away from this nightmare!

wow! My loan was also sold to selene from Carrington, wonder why. The same thing happened where my last payment was rejected and returned. Carrington was super helpful now this new company that I have seen so many bad reviews on...is scaring the crap out of me as well. I dont want to send them any money as IDK if they are going to trick me. I finally was able to speak to a rep there ( agent handling my case) and she was like oh we have mailed you so many things...really?! funny i have but a statement showing what i owe ( the full amount of the mortgage). WTF! she said well we have not YET received all your info and records from carrington! Oh so how in the fungu do you know how much I need to pay? I just dont get these companies. I wonder what can i do to make sure these damn people do what they are supposed to be doing! what a pain in the ###! I have kids, husband and work! A Life! i dont have time to sit on the phone 3-5 hrs a day trying to get a rep to even answer. :(

Wow now I am freaking out... our loan was sold to them too (I just found out because my ON-TIME, UP TO DATE payment was rejected by Carrington Mortgage on the 8th of the month after I paid it on the 1st of the month!) I went into the system to see what in the hell happened only to find my account marked inactive and that it had been sold to this company! WOW what the hell, so now I am skating on ice with my payment being late (thank God I have receipts of my transactions ect showing I made my payment and the letter showing it was rejected dated the 8th, postmarked the 12th received today the 14th). Luckily I do have an attorney (one that handled the Restructuring on my loan with Carrington that took it over from Bank of America... now dumped it looks like in hell with Selena Finance... Geeeeez it looks like making our payments promptly the 30th will have to be a do or die quest to get the hell away from this company! Thanks everyone for all the info and warnings, it does help to know what you are in for ahead of the game!

has anyone ever been to their actual office in Houston and been able to speak with anyone? I am considering that option and wanted to know how easy it is to do?
thanks
paul in austin

flagstar sold my loan to selene they tried to get me to do a forbearance I refused because they wanted 2 payments on a days notice. I got behind due to being ill for 10 weeks. Hired a lawyer and now I go to court Feb.11 to see if I can some how keep my home. I need to find out how to get all the facts on this company when I go to court. Let me know, as I want to try to keep my home. They also wanted 6 payments of $648 for 6 months but my math was $200 less then theirs. Please contact me at :moonbabe350@aol.com. And please keep me in your prayers that I can keep my home. and maybe we should see about filing a class action law suit against them.

I have had the same experience witht this craptastic company. We have never been late on a payment, have excellent credit and equity in our home. Why our loan was sold to this company, I will never know. We have also been throught the "we estimate your escrow account is underfunded" trip. Our property taxes went down and our morgage insurance went up $78 per year, and now they "estimate" a shortfall in our account. After calculating the account, using selene's numbers, there was a surplus of close to $150 in our escrow account after everything was paid. When I called customer service, another nightmare, I was told simply to comply or face "fees and penalties". They gave me the "we can take 2.5% extra funds to cushion the escrow account, by federal law", which is correct ONLY if there is an actual shortfall, not a "estimated" shortfall. We have been through the BBB which gained no results. We have now filed complaints with 2 other federal entities. I feel that they are trying to make money by skimming peoples escrow accounts. My advice is STAY AWAY FROM THIS COMPANY.

My loan with Flagstar, an equally horrible company, was sold to this "collection agency" called Selene Finance. I have never been late on any payments with either predator, I mean company, but started getting threatening letters and phone calls if payments were not received by them within the first two days of the month; they treated us like deadbeats. I did contact the BBB, but like someone posted here, they are not affiliated with the BBB and there's nothing the BBB can really do even if they were a member. I'm looking to refinance just to get rid of them, and have no idea why our good-standing loan was sold to them in the first place; never missed a payment, or late on a single payment, 800+ credit score, and 30% equity in home. Maybe they are trying to go after the equity as suggested by another poster. One more thing I noticed when our loan was sold after a year with Flagstar was that our escrow payment more than doubled from $300 to about $650 even though our insurance amount stayed the same, and our property tax dropped by nearly $400 dollars for the year. Could they be skimming money from my escrow account? I will obtain a copy of my prop tax from the city and insurance company and compare against what Selene actually paid out, and post the results here. If you don't currently have Selene, DO NOT DO BUSINESS WITH THEM, and if you are a victim of predatory banking practices and inadvertently caught the Selene disease, try to get rid of it as fast as you can!

Our post, may not address each complaint directly, but we are trying to spread the word on this horrifying company & hopefully, someone will pay close enough attention & karma will come knocking at Selene Finance's doors.

SELENE FINANCE should be thoroughly investigated on every level possible & every one of the loans it holds, it's banking practices & beyond, audited to the fullest at the highest level possible!

To mortgager's that have become victims of SELENE FINANCE (or your loan was sold to them - if sold to them, you are now a victim of their horrifying practices) ---- hopefully you will find the below information helpful, if not all, maybe some helpful. Selene Finance is, and if not yet, will be the worst company you will deal with!

Make a long story short - they thrive on you NOT paying your mortgage! Yes, the make money off of fee's. They have a set of fee's that they have made up themselves. You don't pay, you'll see what's called "Corporate Advance Fee's" & these fee's can be anything they wish them to be. They also buy up troubling mortgage loans pennies to the dollar! You would be floored to learn what they actually paid to obtained your loan - it's sickening (this information provided with proof via documentation from an inside source of the company) They make the most money on the fee's they apply to your loan. IF you pay your mortgage & they are not able to continue to add their fee's (and they come up with some doosy's, that's for certain) they will then sell off your loan because if they can't apply fee's to your mortgage, they are losing money! Their fee's, they should be against the law & furthermore, investigated at the highest level!

But ----- First, to try & avoid the woe with Selene Finance's piss poor customer service, their fee's, their harrassment if they don't see your payment in by the 1st (you do have a legal 15 day grace period but they ignore that) they will call you, they will call your family members, they will even call your work... they are the epitome of harassment when it comes to the word! Selene Finance loves to add up the fee's on your mortgage too & make sure you document each & every time you may imposed each fee! Simply put though, if at all costs, try your best to just move up your due date (a mental/physical note, really) on your mortgage payment to allow for room for emergencies & such. If you're not late, they will get rid of you & be glad they do!

Secondly, as for those that have contacted the BBB, Selene is not BBB accredited so you are wasting your time & nothing is being done really to get the proper attention on this company that needs to be. Do better than the BBB (Selene Finance LP isn't a BBB accredited company anyway) - Contact your local Attorney's General Office, the Federal Trade Commission, your local government officials, Selene Finance's local government officials (Houston Texas - Selene Finance's main office) & contact the Attorney Generals office where Selene Finance is located (Houston Texas).

Thirdly, it never hurts to speak with an attorney if it ever gets to that point. Educate yourselves as thoroughly as possible. Selene Finance, is a strange run company & they will take advantage of those that lack appropriate knowledge with regards to their mortgages. By all the statements & complaints all over the place, this company should not be able to remain. Their customer service is awful & they will hound you horribly if you do not pay your mortgage on time. They will apply fee's to your mortgage, as mentioned before... lots of them, at their own discretion! Keep very close track of those fee's too!

Bottom line, don't give them a reason to make life miserable on you. By bumping up your mortgage due date, mentally & physically, you will save yourselves a lot of heart ache. Plus, once they see you appear to pay on time & regularly, you are of no good to them & they'll sell your loan because they are not interested responsibly payers.

And GAWD for bid... stay away from them Forbearance program! Do NOT fall for their tricks! Sell your home before you let them talk you into their Forbearance crap! Just research, you'll learn very quickly how many people have been taken for a ride with Selene's forbearance programs.

If you do not pay your mortgage with Selene, they will send out a privately hired vendor (inspector/spy) to inspect your property. Know your rights! These thugs will try to tell you they need to access the interior of your home along with walk around & inspect the property. You do NOT have to let them in your home, nor allow them on your property. In fact, you can, by law, ask them to leave your property & never return on the premisses. Talk to your local county police department as laws may vary slightly state to state. But... even though, after asked to leave, they will sit on the roadway, take photos of your property & even go as far as to sitting down the road to see if there is activity at the residence (they will also attempt to sneak around on your property which is illegal). Basically - Selene Finance actually hopes you vacate your property because they can then take ownership of it, change the locks & claim it was abandoned. What ever you do, do not give them this opportunity. Rent your place out if you can not afford it! Do not just leave it unoccupied!

Lastly.. pay your mortgage. If you just are not able to afford it, time to consider selling is truly in your best interest. Hardships are awful & some just can't find a way out of them. There are options, but the willingness to exercise those options will make or break your future as a home owner.

BEST OF LUCK to all that are with Selene Finance. We are no longer with them, THANK GAWD! We refinanced with another company & we're sorry we didn't do so a long time ago! If you are able, refinance & get away from Selene Finance.

This company, SELENE FINANCE, deserves the highest level of an investigation into every single one of the mortgages they hold & have sold to other companies! They are committing fraud & it's just a matter of time! Hang in there in there folks :) There is light at the end of the Selene Finance torrential tunnel!

i need to know if my payment is being taken out of my checking account or i need to send a check thanks
my account #[protected]

Larry yunt
1500 east 14th
Sedalia Mo. 65301
email 1yunt@charter.net
phone [protected]

I also pay an extra principal amount every month in order to be rid of this company. They consistently place the funds I send by check into a "suspense account" even though I make the notation of "extra principal" on the check notation line. After two phone calls to customer service it has not yet been applied to principal. This is illegal and very frustrating.