Help with PNC short sales.
Website: https://www.pnc.com/webapp/unsec/Homepage.do?siteArea=/PNCCorp/PNC/Home/Personal
Members: 388
Latest Activity: Jul 27, 2020
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Customer service 800-523-8654
FAX:
937-910-4009
MAIL:
PNC Mortgage
Attention: Central Receipts
HAMP Bldg 7 – B6-YM10-01-1
3232 Newmark Drive
Miamisburg, OH 45342
PNC HELOC Department:
Phone: 866-622-2657 FAX: 866-641-2691
We seem to be getting conflicting info on numbers. Try these as well.
Fax SS Package to: 937-910-4009 -- Takes 24 hours to make it through their imaging system. Then call: Jonathon 937-910-3327 (he's in PNC's 1st Lienholder Loss Mitigation dept.) He was very helpful for me. good luck
Here are updated Phone Numbers for PNC Mortgage:
SS Dept # is 888-224-4702
FX: 440-546-2201
FX: 937.910.4009
First Mortgage:800-523-8654
First Mortgage Letter of Authorization:937-910-3333
2nd Mortgage Collections: 866-622-2657 x 44700
ESCALATIONS:
PNC Twitter @PNCBank_Help
[email protected]
800-524-9995
PNC SHORT SALE DOCUMENTS LIBRARY
Process for Fannie Mae/Freddie Mac Hardship Assistance Review
Started by Deb Orth Jul 27, 2020. 0 Replies 0 Likes
Does anyone have a contact at PNC? Getting nowhere in response to submission of short sale package. Keep getting emails saying they have received the documents. Then they ask for the same docs…Continue
Started by Steve Doan. Last reply by Dean E Eshelman, CPA, CDPE, IRES Jan 23, 2017. 6 Replies 0 Likes
Hello all. Have a short sale, home value is in the low 700's. PNC is in the second position and there is decent amount of equity beyond the 1st. Having the home on the market for going on a year…Continue
Started by Ashley Den Uyl. Last reply by Sandy Hermes Nov 23, 2015. 1 Reply 0 Likes
The property went to foreclosure sale in 8/20/15. Michigan is a redemption state so we have 6 months from 8/20/15 to complete the short sale. I received an offer on the property and submitted the…Continue
Tags: sale, escalation, second, first, redemption
Started by Sandy Hermes. Last reply by Kylee Roe Jun 1, 2015. 5 Replies 0 Likes
Intitated contact with PNC last October and let them know Seller was reaching out for short sale. He could see a new financial obligation that would exceed his mortgage payment beginning in Jan. They…Continue
Tags: on, loan, netproceeds, current, seller
Comment
Thanks John for the support.
Hi Carmine - the home was initially purchased as a primary residence but was a rental for the last year and a half so it is now an investment property.
PNC is one of those lenders that if this doesn't go through the HAFA program they are unlikely to waive deficiency and likely to ask for a large amount. Knowing this ahead of time before I ever submit an offer I review everything and educate the parties to ensure that it's even remotely workable. I have found that if the property can go through HAFA it's easier and if the 2nd lien was purchase money that is also a good point of negotiation. For non-purchase money/non-HAFA deals with PNC I find I make 3-6 offers to the 2nd before coming to approval. I usually work the 2nd 1st unless they are both PNC attached purchase money loans and that way I know what is needed for the 2nd. THEN you can revisit your offer, your comps etc. and see if you have any back up room to have the buyer pay in towards the 2nd lien. I am a firm believer in disclosure so I always disclose the structure of the 2nd lien short sale payoff on the HUD1 when negotiating out the 1st lien. Sometimes it's easier and cleaner to work backwards when you know the players. And yes they do pursue-they don't JUST keep their rights to pursue they will begin calling the seller a few weeks after closing to get the seller into a payment plan. I have yet to see them go after an actual deficiency judgment but they do try to collect via telephone & mail (outside HAFA of course).
Over the years PNC in 2nd lien is a nightmare. the best I have ever got after a hard fight was 20% of the debit, and we all had to pitch in to make it happen, buyer, both agents ,and sellers. Good Luck but them or Green tree in 2nd I have started not taking them unless the client signs disclosure to the fact that will happen ,and they might have to pay into the deal to close it. No reason to work on something that won't close without it. If you get any better deal Please share with all of us John
Hi kendra,
Was this a primary residence owner occupied property or investment property?
Hi Jerry, I work in California and the 2nd is purchase money. PNC refused our offers of $6,000 and $24,000 and are demanding $95,000. They will get nothing if the first forecloses and yet they still do not budge.
Kendra, I do not know what state your are in, and if this is a 'purchase money' 2nd lien or a heloc that the clients access time and time again. Depending on the details of your client, depends on what course of action you need to take with PNC.
I am working with Nicole Gerg at PNC on a 2nd lien and am finding her impossible as a negotiator. Does anyone know her supervisor? PNC is asking for 40% to release the lien which is totally unreasonable.
Just received approval on PNC short sale in Santa Rosa Beach Florida in 2 weeks! No deficiency, past HOA dues, paid!
Does Jonathan have an extension? @doc
Just listed a PNC short sale in Santa Rosa Beach... I've had success dealing with them. @Chris - that depends if the investor on the loan allows sellers to be current...
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