PNC...could I have done anything different

Hello All,

 

We received approval on the 1st (Chase) and we've been going back and forth with the 2nd (PNC). Negotiator said we would have approval if Seller contributed 10%, both buyer and seller contributed to meet the 10%. It was submitted for investor review and the investors came back and said they wanted $25K.  This was an extreme hardship short sale so it was a no go with the $25K contribution.  PNC didn't want to give a promissory note because the Seller had previously filed for BK.

 

Are there any other straegies or options that you would have tried...or are the sellers simply S.O.L.

 

Thanks in advance for your $.02. I unfortunately have another PNC short sale coming up.

 

Lydia

 

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Permalink Reply by Previous SunTrust Negotiatior on May 20, 2011 at 5:14pm
They must have assets that were not disclosed to you.. or it was a strategic default. You really need to get credit reports to understand the situation.
Permalink Reply by Previous SunTrust Negotiatior on May 20, 2011 at 5:14pm
Was the house included in BK
Permalink Reply by Lydia on May 23, 2011 at 6:42am

The house was included in the BK. 

Thanks for the responses.  This is only the 3rd short I've lost in over 4 years so I always want to double check to see if I could have done anything different or used another strategy.

 

Thanks again!

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