Comment

Comment by Kathleen Lordbock on February 8, 2011 at 4:13am

Just sent in a Purchase Agreement and Short Sale package to PNC- I hope they go fast because the redemption period ends April 13th. Is there any way that an offer would cause them to hold off and extend that time? I have not dealt with them before.

Comment by Jean Beymer on January 20, 2011 at 5:59pm

I have a PNC/National City Home Equity 2nd.  the borrower is not late on their payments. We have an offer on the 1st mortgage/ Wells Fargo - Freddie Mac which makes the transaction a short sale.  WF is moving quickly on the negotiation on the first mortgage.

Any suggestions on getting PNC to move quickly?  Will I have a problem since the

borrower has never been late on a payment to the 2nd?

 

 

Comment by Dave Greek on January 20, 2011 at 1:12pm

Anyone deal with P&C on a second where they wont allow the first to pay 5000 to the new buyer towards closing costs.  They say its not in their guidelines and they don't allow it.  It doesn't net them any more cash on the sale and it only queers the deal.  Why would they hold onto this position?

Comment by Jessica Eisenhauer on January 13, 2011 at 2:19pm

I have a short sale with PNC.  We got to the very end and when it was submitted to the investor they said that the seller worked for the same company and I did and that they would require a Arms Length Affidavit and that we couldn't sign that because we do have a business relationship.  SERIOUSLY..  so now I would have to give this to another agent, listing contract, offer, etc..  Any way around this?  DOL has a clause that says regardless the seller can't get ANY funds from this sale and the seller already filed BK so the debt was discharged in BK..  Seems too hard for something sooo stupid.

Comment by Diane and Doug Briggs on December 7, 2010 at 7:17am

Any escalations or executive offices contacts anyone can send my ways is much appreciated. I have a PNC nightmare going.

Comment by Dawn Barrier eXp Realty Vegas on November 3, 2010 at 9:27am

PNC Bank on 2nd is refusing to give deficiency release unless they get a huge amount of what is owed.
They may settle for approx 10% to let the short sale go thru, but then send it over to their collections dept afterward and they say they will pursue the homeowner if it forecloses

Comment by Christian on October 8, 2010 at 3:21pm

Anyone actually having any luck with PNC (formally National City)? Started the short-sale in January, it's October now and just got approved. The original loan is $55k, the seller has lost his job and has a 18 month old daughter that was diagnosed this year with cerebral palsy and the medical insurance company has refused to cover her. The home is in Las Vegas and is only worth 38% of its original amount. There is no possible way of paying off the loan but PNC will only negotiate to $33k + $6700 to release the lien. We've offered $6700 for the lien and $5k to settle (from the buyers) but they still won't accept it. All of his credit cards did not have a balance but have been closed due to missing mortgage payments. Anyone have any suggestions? How does the collections process work after closing? I've heard PNC comes after the balance within a month if not.

Comment by Rick Trono on September 21, 2010 at 6:27pm

I need your help...I have a client that is being foreclosed on (Tustee Sale scheduled for 10/06) He needs an additional 30 days in the home.
Any help is welcomed and appreciated.

Comment by Mary H. Morrill on September 8, 2010 at 6:40am

This is our second go-round. We had approval with another buyer who walked....it took a couple of months, but this time they assure me since it is the same terms, should have an answer in 10 days. We shall see, we shall see.

Comment by Abraham Walker on September 8, 2010 at 6:29am

What is the average time frame to process a PNC shortsale?

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