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PNC 1st/E-Trade HELOC

Posted by Karen Warren on July 24, 2013 at 11:12am in Short Sale Discussions

Hi All,

I am just starting to work on a new shortsale with PNC as the 1st and E-Trade as the Heloc.  Has anyone had any experience working on a similar transaction?  I haven't worked with PNC in awhile and never had this combo before.  Any insight is gratefully appreciated.

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Replies

  • Jonathan Katz July 24, 2013 at 1:12pm

    Karen,

           This should sale should be addressed the same as all short sales. Check the title report to ensure all liens are being addressed and do some preliminary research with E-Trade as having them as a 2nd mortgage is uncommon in the scheme of things. In regards to PNC they can be difficult at times (more so in 2nd position) and they go straight by their guidelines in regards to sale dates and the % amount they will allow to subordinate lien holders.

    If you have any specific questions I'll do my best to address them.

    You got this!

    If you ever have any questions feel free to reach out to me as my door is always open.

    310-564-6389

    www.ishortsalenow.com

    Brett@ishortsalenow.com

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