Will PNC make us pay the judgement
Does anyone know If we can not get our short sale completed will PNC make us pay the judgement in full or will the negotiate on the short fall balance ?
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Ken - Focus first on getting the PNC short sale approved with waiver of deficiency. This is highly possible. If the short sale is approved without waiver of deficiency, or if you cannot achieve a satisfactory short sale prior to a foreclosure, seek the advice of an attorney. There are also many cases where a deficiency judgment is negotiated and settled between the parties, but get legal advice.
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Permalink Reply by Ken Bernhard on
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Thank you for your advice, I have presented 4 offers to PNC on this this loan, its on 9 buildable lots that I own. The last offer we added 100k to the buyers offer making the offer a retail offer. PNC still said its too great of a loss to except a short sale on. It doesn't appear that there much I can do at this point other than wait for them to foreclose.
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