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I am singing "Dealing with PNC Mtg who is negotiating for BOA blues"

Posted by Donna Antolick on April 20, 2011 at 6:16am

On this particular property I have been through 2 different Buyers and 4 appraisals, 2 by the lender.  I know for a fact that all 4 came in around the same price.  There is a 2nd and a 3rd which have been negotiated and approved.  The Buyer is willing to contribute to the balance of the 2nd and the 3rd so there will be no deficiency notes.  After we did everything that PNC Mtg requested from the "investor" BoA they came back to say they would rather go to foreclosure.  Under the new law don't they have to accept a 100% plus offer on the appraised value.  We did not ask for .88% even.  I believe that they "investor" can not produce the note and the mortgage to show clear chain of Title.  Who can I contact?

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Comments

  • Donna Antolick April 27, 2011 at 10:38am
    I actually did just that.  I let them know that they may be in legal trouble more so if they did note allow the Short sale than if they forced the Seller to foreclosure.  They are requesting the Investor make an exception.  No word as of yet.  I will let you know. 
  • Judith Sailors April 27, 2011 at 9:34am
    "Produce the note" I have heard that tactic has worked for others but have not used it myself. I'm curious to know who has been able to get results with that as well.
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