I have had great difficulty with this lender in the past and feel the need to share positive developments.
I just received a short sale approval from PNC Bank in only 2 weeks from short sale package submission to "as submitted" short sale approval on my client’s subordinate lien.
1. No cash demand of the seller/homeowner at closing.
2. FULL WAIVER of collection of deficiency balance post-closing.
I have to say that I am stunned compared to my past experiences.
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That is great news as I have one with them right now. Thanks for the update
Would you mind sharing your contact at PNC and their contact info. I am trying to initiate a short sale with PNC and I'm having a difficult time. Thank you!
I have been struggling with PNC on a 2nd also.
Any tips, tricks, contact info would be greatly appreciated.
I just had a fairly good experience with PNC where they are servicing an e*Trade loan. They also just took two weeks to approve but they did want 30% versus the 10% we had given them. This was a $20,000 second. Luckily, the buyers wanted the property and in the time they have been waiting for the short sale approval the condo has appreciated thus they were willing to pay the additional $4,000. Time was of the essence as we have a close date from Wells so we didn't counter - buyers just wanted to get it closed.
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