This may be too late of a reply, yet I am in the exact same situation with BOA on 1st and PNC on 2nd, with discharged Chapter 7 yet case not closed. Still waiting for approval from PNC. From what I learned from several…"
"When you say Freddie Mac is whole what does that mean? Does that mean they are being paid off in full? Freddie Mac only allows up to 6k to subordinate liens if it is a short sale. Any excess funds will go back to the 1st lien after 6k is allotted to…"
Unique situation: 1st(Freddie) is whole with a 2nd and 3rd lien on prop. We have an approval letter from 1st saying they'll give up $6K to jr. liens which leaves $33k unaccounted for. We have spoke to servicer(Wells) and they us that the excess…See More
It will be up to the discrepancy of the investors guidelines on the 1st note in regards to how much is allowed to subordinate mortgage liens. I'd be asking the 1st mortgage to review a larger…"
Im working on a short sale were the first with chase is $1,000,000 and the 2nd with Wells Fargo is $400,000. The do not qualify for a HAFA so who decides how much the 2nd will get? Is Wells Fargo going to want to negotiate a large amount or…See More
"you should not be surprised especially when it comes to Bank of America. I had a short sale a few years ago with an old Countrywide loan. They tried to bluff me that the M.I. company wanted payment in the short sale. I demanded…"
"I don't know why this surprises me when it shouldn't. After all, if a lender can own a mortgage insurance company and then use that mortgage insurance company to issue mortgage insurance for its own worthless loan without equity, nothing…"
"@jeanette what type of loan is the 2nd? Call customer service at 800-523-8654 and get pointed in the right direction. If you need a short sale approval you will have to faciliate the short sale with PNC and go through a review process. If you…"
"@kylee if the lien was stripped you could likely just contact customer service and ask for a zero demand letter or a reconveyance letter. If that doesn't work reach out to the escalation department. If the lien was or is going to be stripped…"
"Does anyone have current information on who I can call at PNC to get a short sale approval on the 2nd? I had a email@example.com with a phone number of 937-910-4128. I called after sending an email to him and lori explaining…"
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