Buyer and seller are ready to close. Yet the foreclosure attorney representing PNC said they would rather proceed with the foreclosure? This is not in the best interest of PNC, am I wrong or right? attorney for bank stated that it's a dead deal and the property will foreclose? Buyer has spent thousands on inspections, appraisal, and survey! This is not fair ! PNC need to get involved.
PNC sucks. They either want cash contributions or are completely unrealistic with their valuations. I'm assuming that they think the property is worth MORE than what you're offering based on their BPO value.
You'll have to make some serious noise if you want to stop the auction. My last PNC sellers filed bankruptcy tacking on about 4 months to my sale and the second PNC loan held up the sale for $19,000 more than what the first PNC lien offered. It's nuts.
Their investors must lose money every day.
amount of loan owed is $395K and the buyer is purchasing it for $280K, appraised for $285K... not much of lost based on other deals that I have worked with.
Making some serious noise? calling PNC headquarter? getting a news reporter to do a case and letting people know that foreclosure attorney are scum bags? poor home owner, it can't get any worst for him. Wife died, lost 2 other homes and now this...
Yes. If that's what it takes! Call the office of the president at PNC. Call the office of the comptroller which is supposed to OVERSEE PNC activity. Try to find out who the investor is and go direct to them. You can't just always take "no" for an answer. Usually when you make a servicer squirm, you'll get a response.
Thanks for the responses. We are trying our best. Any other recomendations? Do you have any other contact information I can use?