PNC Addendum -- Is it really necessary?
Hi all,
Just starting my first short sale with PNC Bank (it's a second - the first is with BofA - purchase money loans in California, a non-deficiency state). I sent the package in with an alternate third party authorization and didn't have the sellers sign the form that states they'll be responsible for any outstanding balance. I did send the form itself but indicated that we were providing an alternate authorization.
Has anyone had any success getting PNC to approve a short sale without this letter signed by the sellers?
Thanks,
Shannon Jones
Keller Williams Realty
Replies to This Discussion
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Permalink Reply by Kyle Souza on
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Did you tell them that it was purchase money in CA? I know that they won't work the file on refi 2nd's without it.
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Permalink Reply by Shannon Jones on
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Kyle Souza said:Did you tell them that it was purchase money in CA? I know that they won't work the file on refi 2nd's without it.
No, I didn't mention that. Probably should have. I imagine that they'll probably come back and ask for the form, but if not, I'll be following up early next week. -
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Have you already started the file in Equator? PNC will go too fast and push you and threaten to cancel the approval while you are waiting for BoA.
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Kyle Souza said:Have you already started the file in Equator? PNC will go too fast and push you and threaten to cancel the approval while you are waiting for BoA.
Yes, we started the file in Equator. But we're able to almost make BofA whole so I'm hoping it will go pretty quickly. -
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