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PNC/National City

Insight into those that are doing short sales with PNC or the former National City Mortgage.

Members: 181
Latest Activity: Jun 1, 2015

PNC Bank Phone number 800-822-5626.
Authorization fax number 1-937-910-3333
PNC Short Sale Package Fax Number 1-937-910-4009
Phone: 888-762-2265

www.pnc.com


Click Here for a PNC Bank Short Sale Package

Discussion Forum

HELOC settlement.

Started by E C Hong Jan 30, 2014. 0 Replies

Purchased home $600k back 2007 now it's around $390~420k. Owe about $395k to 1st lender and $118k to 2nd lender (PNC). I'm trying to reach settlement for this HELOC before starting s/s nego. with 1st…Continue

Finding a live person in Loss Mitigation

Started by Janice Wheeler. Last reply by TOP END Properties Jun 18, 2013. 2 Replies

I have a new listing that we are doing a short sale. We got a nice offer even a little above list price. Faxed everything over all 62 pages. Anyway, I have trying to calla and confirm it…Continue

Contact to try at PNC

Started by Teresa Simon. Last reply by Candace Curtis Oct 18, 2012. 1 Reply

Timothy SeisloveShort Sale Manager / Investor Relationship ManagerLending Services - Consumer Default ManagementPNC BankLocator BR-YB58-01-36750 Miller Rd.Brecksville, Ohio 44141440-546-9476…Continue

PNC rather do a foreclosure over a shortsale?

Started by Benny Tran. Last reply by Benny Tran Sep 18, 2012. 4 Replies

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?…Continue

Comment Wall

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Comment by Stacie A. Kramer on January 11, 2011 at 11:55am
No. They've never given approval. Thanks for the advice.
Comment by Colleen Pestana on January 11, 2011 at 11:50am
Has PNC given you a SS approval yet?  In our case they ended up wanting $50,000 for a full release and would release lien only for $22,000. That kind of money just wasn't available in our deal so you might want to see if collections can help you get an answer from the negotiator before your client puts out anything.
Comment by Stacie A. Kramer on January 11, 2011 at 11:38am
Thanks, Colleen. I am still going to research this to see if there is anything else we can do. If you find out anything else, please let me know.
Comment by Colleen Pestana on January 11, 2011 at 11:28am
I had a similar situation with them and it turned out to be true.  They had been calling the seller for months and he was ignoring the calls thinking that he didn't need to deal with them because of the short sale.  I don't know if they would have charged off or not but the seller made the minimum payment to avoid this so we could proceed.
Comment by Stacie A. Kramer on January 11, 2011 at 10:15am
I'm dealing with PNC as a 2nd with BofA as the 1st. Yesterday, BofA informed me that we will be getting HAFA SS Agreement by Friday. I informed PNC. I got a call from a totally different person last night that she can't get ahold of the seller and called me. The file was forwarded to her and they need $108 to avoid charge off. She said that they can post date a check until 1/31 from the seller. She said they won't agree to the short sale and sign off, if they don't receive this payment. I have been in contact with a negotiator for PNC on this issue and nothing was ever said. Is this person trying to pull something over on me and my client? It doesn't feel right to me.
Comment by Ellen Muzzio on December 10, 2010 at 11:34am

Our experience is that PNC will take one amount to allow the short sale and keep deficiency rights and a much higher amount to release the lien.  If they ever just give you one number, ask them what the 2nd number is.  We have PNC on a HAFA deal right now and the most they can get on the deal if it goes thru HAFA is a max of 6% or $6,000.  In this case, it's $6,000 which is about 5% of what they're owed.  We don't think they're going to ever take that so are trying to get their answer before proceeding with the 1st as a HAFA deal.  Very complicated, this HAFA stuff.

Comment by Joe Beauchamp on December 10, 2010 at 1:37am

Yes, PNC can be a real bear as a 2nd.  This lubawy character is a real collection type guy wanting $18K for a $22K loan.

 

There are others there who are better - while this guy was on vacation, we got someone to get it to $6K.  Not as absurd and good ol' Al.

 

When you hit the "collector" mentality, it is really tough.  They start out from a "discount" position - not feeling the full pain of the total amount due but something less.  In that scenario, the bar is lowered and they can push hard.  Frequently enough, someone will come up with some cash to save the deal, on the average.  So, they are quite ready to see YOUR file go down the tube because the numbers work out for them to use nasty tactics, on the average!

 

Also, if you think you are getting to a reasonable point, make sure you cannot be blind-sided.  They will just not have that approval or paperwork until 3 minutes before closing needs to happen and THEN they will spring on you some need for an extra $5K.  Ooooo, let's see, do you kiss off all this work and the deal or do you swallow hard and cut into your pay so at least you walk away with $500?  Nice ethics, eh?  So, if you see the possibility, nail it down before you get into that corner - don't think that their nebulous answer now means that they won't suddenly come across some reason to ask for something insane at the last moment.

 

Uh, yes, PNC can be very difficult.  The best you can do is put together a strong story as to why you are stuck (with this negotiator) and ESCALATE to his manager.  Yes, he will probably lie and tell you he IS the manager and there is no one above him.  That is likely to be the kind of slime you are dealing with.  Uh....enjoy....  I always look forward to dealing with 2nd's.  I also ask the dentist to skip the Novocaine and enjoy walking to the office barefoot through the snow, and.....

Comment by Barbara Pedersen on December 2, 2010 at 5:48pm
Hello everybody,
I have a second with PNC now.
Phil, 18K what % of the loan was it?
Comment by Colleen Pestana on December 2, 2010 at 5:46pm
Hi Andrew - I'm working on one myself with PNC as the 2nd and they are proving to be the most difficult I've ever dealt with. I was told by another agent they were able to get a full release but PNC required 40% of the loan amount to give this. They were willing to release lien only for a 25% payoff with seller agreeing to deficiency balance.
Comment by Andrew Ostrander on December 2, 2010 at 5:12pm
I am presently working on a pending deal with PNC as the 2nd Mortgage. They seem to be rather rigid in their request and won't take the standard $3k payoff typically offered by the 1st (they want well over $30k). Any recommendations on what they will take in a counteroffer to get this deal done?
 

Members (181)

 
 
 

Discussion Forum

HELOC settlement.

Started by E C Hong Jan 30, 2014. 0 Replies

Finding a live person in Loss Mitigation

Started by Janice Wheeler. Last reply by TOP END Properties Jun 18, 2013. 2 Replies

Contact to try at PNC

Started by Teresa Simon. Last reply by Candace Curtis Oct 18, 2012. 1 Reply

PNC rather do a foreclosure over a shortsale?

Started by Benny Tran. Last reply by Benny Tran Sep 18, 2012. 4 Replies

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