Replies to This Discussion

Permalink Reply by Pamela Walsh on August 11, 2010 at 10:40am

I need a good contact as well; preferably at a VP or SVP level to get a postponement on the foreclosure sale! Any help wtih contacts would be appreciated and I promise not to abuse!

Permalink Reply by Melissa Colvard-McKinsey on August 18, 2010 at 7:22am

I have PNC on the first lien and Chase on the 2nd. Chase wants $9000 or 10% of the balance (HELOC). PNC "per investor guidelines" will only pay $3000.00. The buyer is willing to pay the difference, but PNC won't allow it, saying that if the buyer's paying more, then the first should get it.

I found the email for the CEO and I'm going to escalate to executive level, but does anyone have experience with this?

Permalink Reply by Melissa Colvard-McKinsey on August 18, 2010 at 7:23am

Permalink Reply by Bryant Tutas on August 18, 2010 at 7:36am

WOW!! This is awesome info Melissa. Thanks for sharing.

I have had a lot of success with PNC but have only had them as the 2nd. The negotiators I've dealt with were very responsive. When I have had this situation before I just placed the payment from the buyer on the buyers side of the HUD and never said a word about it. The HUD has been approved every time. I just did it yesterday with PNC as the 2nd. The buyer is paying them an extra $4,000. US Bank is the 1st with FHA and they didn't even mention it. My opinion is that what the buyer pays as a closing costs is none of the sellers lenders business.

Melissa Colvard-McKinsey said:

Permalink Reply by Melissa Colvard-McKinsey on August 18, 2010 at 7:46am

Maybe I shouldn't have said a word to the negotiator at PNC about it. She did tell me to redo the HUD1 and send it to her and she would "run it by" the rep. If the rep is ok with it, then she'll submit it to the investor.


Bryant Tutas said:

WOW!! This is awesome info Melissa. Thanks for sharing.

I have had a lot of success with PNC but have only had them as the 2nd. The negotiators I've dealt with were very responsive. When I have had this situation before I just placed the payment from the buyer on the buyers side of the HUD and never said a word about it. The HUD has been approved every time. I just did it yesterday with PNC as the 2nd. The buyer is paying them an extra $4,000. US Bank is the 1st with FHA and they didn't even mention it. My opinion is that what the buyer pays as a closing costs is none of the sellers lenders business.

Melissa Colvard-McKinsey said: