Selene Finance Seeks Atlanta Home Foreclosure
The lender is requesting court approval to foreclose on a property with over $164,000 in unpaid mortgage debt.
Updated on Oct. 22, 2026 in Residential
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Selene Finance LP has filed a motion in bankruptcy court seeking permission to foreclose on a residential property in the Atlanta area. The lender alleges that owner Pinky Cole has not made mortgage payments on the three-bedroom, two-bathroom home since December 2025.
Why it matters
When a mortgage goes unpaid for an extended period, lenders typically seek legal relief in bankruptcy court to initiate foreclosure. This move highlights the importance of maintaining communication with loan servicers if a property owner falls behind on scheduled monthly mortgage payments.
The lender claims over $164,000 is currently owed on the Atlanta-area home. This figure follows a stated cessation of payments that began in December 2025.
The players
Selene Finance LP
A loan servicer that manages residential mortgages and pursues collection and foreclosure actions.
Pinky Cole
The owner of multiple Georgia properties and founder of the burger chain Slutty Vegan.
The details
Mortgage servicing contracts typically require consistent monthly payments to maintain ownership of a property. When these obligations are not met, the lender may move to recover the debt through foreclosure, a process often overseen by bankruptcy court if the borrower is involved in legal proceedings. This filing serves as a formal step by the servicer to secure authorization to pursue legal remedies against the asset.
Timeline
December 2025: Mortgage payments on the property ceased.
October 22, 2026: Selene Finance LP filed legal documents in the bankruptcy case.
Money Landscape
This filing sits within the established legal framework for managing delinquent real estate debt. It follows the standard pathway lenders utilize when an owner fails to meet long-term mortgage obligations.
For property owners, this situation underscores the importance of addressing missed mortgage payments immediately with a lender to avoid legal action. If you are struggling with loan obligations, consult with a qualified attorney to discuss your rights and potential options.
The takeaway
Lenders may seek court permission to foreclose once payments on a property fall significantly behind. Homeowners should track their payment history and contact their mortgage servicer immediately if they anticipate a lapse in funding to discuss potential loss mitigation options.
Further reading
Learn more about local property trends in the Residential section.
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