We just received an offer on a short sale where PNC hold lthe first mortgage and there is no 2nd.  I have never done a short sale with PNC.  Does anyone have any advice?

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I am working on two files.  They just told me to take off settlement fees as those are not allowed.  The lender also asked me to hire someone to clean the house.  A lot of nerve for me helping them sort through a mess from an old National City loan.  The lender has gone six years without foreclosing on the property.....


Is PNC releasing your client from deficiencies?


I recently closed a difficult PNC. If you search around you will find mix reviews but mostly PNC being difficult to negotiate with and/or get the terms you would like.

They tend to require a prom of cash. Do the loan have MI?

In my experience they do have a system they follow and I have had very responsive negotiators who are on the ball however they have there set directives and that's what they seem to do.

Who's the investor on the loan? Do you have any other Jr liens?

I was able to get full approval, no deficency or prom and we successfully closed with 3% going to buyers costs. The loan did have MI as well. Hope this helps and good luck!

You didn't say whether it is PNC Mortgage or PNC Bank. We have tried to do short sales with both. They are unrealistic about value of the property and won't change even when they have an appraisal. They have stated the loans were sold and given us the name of the new owner. When contacted, the "new" owner never heard of the loan and never purchased any loans from PNC. This happened 3 times!!! They have also told us they will not submit an offer for less than the principal amount owed on the loan. It makes us wonder if they really have the note and the mortgage and all the docs that prove their ownership of them. We are going to start asking for forensic audits to see whether there is any fraud going on. I would stay away from PNC if I could.
I also have a loan short sale w PNC I have had good communication with them but they continually deny the SS. We have even offered them 100k more than our present buyers offer just to get it done but no luck.

ONly one PNC short for me out here in Palm Springs, CA.  It was awful.  As stated above, they were very unreasonable, would not negotiate, stuck to their number no matter what.  I got lucky with my Seller.  Her PNC loan was a second and a HELOC with B of A as the 1st.  She decided to keep her HELOC active with PNC to get the Short Sale done (small amount and small monthly payment).  PNC still charged her $5,000 for them to approve the Short Sale at all! 


Overall:  Awful!!


PNC Bank - Fantastic (they also have VERY generous "Cash for Seller" programs available)

NO CLUE why, but has been our experience negotiating these for agents!!!

Let me know if I can help - [email protected]



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