PNC QUESTION!
I have a client that has a Second position lien on his son's property for $300K. The property is only worth about $200K and the first with all late penalties and interest has a balance of nearly $155K. His principle on the 1st is only around $140K.
So the dad, ( 2nd position for the $300K ) wants to just buy the 1st from PNC for $140K, to protect his 2nd.
The loan is in Default and an NOD has been recorded.
Does someone have a direct number of someone at PNC that I can speak to about Buying the Note? I don't want to have to go through the whole Short Sale process to get this done, because it seems like an easy deal, if I can speak to someone in a special assets division or something...
Any suggestions? Your help is much appreciated!
Replies to This Discussion
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Permalink Reply by Michael Hayley on
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Try Shery at 440-546-6717. I am negotiating a situation with her very similar to what you described, but my client's PNC loan is in 2nd position.
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Permalink Reply by Aaron A Wagner on
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Thank you!
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Permalink Reply by Joanna Durrant on
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Michael are you having any luck getting them to agree to less than 10%?
Michael Hayley said:Try Shery at 440-546-6717. I am negotiating a situation with her very similar to what you described, but my client's PNC loan is in 2nd position. -
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