Need help with PNC ASAP

We have negotiated a successful short sale with PNC on the same property for the 4th time.  First two buyers walked due to repairs that the property needed.  Third buyer was diagnosed with a terminal illness shortly after approval.  Finally got a fourth contract, got it approved, but unfortunately had to ask for an extension.  PNC gave us a couple weeks for the extension which expires on 7/15. When asked if the per diem stated in the approval letter could be used if we needed to go a couple of days beyond the close by date, we were told that we could go no more than 2 additional days.  It looks like we might need those two days, but then all is good to go.  Now PNC is telling us to forget it, either we close by the date on the letter or they will decline the file.  If this happens, the seller is finished and will let the house go to foreclosure, a lose-lose for everybody. 

My question is does anyone know of anyone "higher up" that we might be able to go to?  The negotiator and her manager have been less than helpful.  We are running out of time and everyone has worked extremely hard to get this to closing.  Had they not already told us that the per diem was good for a couple of days, we might have said forget it two weeks ago and saved everyone a lot of headaches.

Any input or suggestions would be greatly appreciated.  Unfortunately, I have never found PNC to be easy to deal with when it comes to short sale and will probably not take any short sales in the future that involve PNC.

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Replies

  • Carolyn,

             PNC loves to play hardball and they often are very hard to deal with. If you had an additional 48 hours could you close? I'd keep escalating the file and reach out to other managers and supervisors. Is this with PNC mortgage or PNC bank? I know our company has high escalation contacts at both.

    Feel free to reach out to us anytime as our door is always open.

    www.ishortsalenow.com

    310-564-6389

    Brett@ishortsalenow.com

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