Behind on my house payments with PNC.

March 22nd, 2012 by Jarad

Question:  I am behind on my house payments with PNC. I filled out the loan modification package as they instructed 4 WEEKS AGO and I still don’t know anything. I have an appt. to meet with a HUD attorney in Oakland next week. She said we should talk before I contact PNC myself. She said that since my loan is FHA that PNC HAS to ‘work with me’ in regards to OBAMA loan mod. packages, etc. Does anyone know what my chances are with PNC? I do have a legitimate hardship. I have Cornea Ecstasia which caused me to go blind. I had a cornea transplant over 1 1/2 years ago and subsequently missed a lot of work and got behind. My hardship is documented by two physicians AND I had to be retrained since I am no longer able to teach/see in the classroom as I have for over 20 years. I don’t want to lose my home and now PNC is not accepting any payments at all until my problem is remedied. How long will this process take? HELP!!!

Tags: , , ,

2 Responses to “Behind on my house payments with PNC.”

  1. Jarad Says:

    Unfortunately, you are not the only one in this situation where it seems like the bank is dragging their feet. I hear story after story of loan modification failures, poor communication, lack of cooperation on the banks end, etc. and there is not much you can do besides the daily phone calls or having an attorney get involved. They will tell you the loan modification will take a month or two when realistically it could take 3 to 4 months. The problem is that the lenders typically don’t put a hold on the foreclosure process while you are waiting for the modification, which means while you are waiting, the auction date gets closer. And if you are denied the modification, you’ve just wasted valuable time in finding a solution to avoid foreclosure. It’s always a good idea to have a backup plan “just in case” the first option didn’t go as planned because time is your biggest enemy right now. Here is a list of homeowner options for you.

    My question to you is, do you have a 2nd mortgage? If so, there might be another alternative to loan modification. You can wipe out your 2nd mortgage completely which will help lower your payments, in essence do the same thing as a loan modification, however, by wiping out your 2nd mortgage, you also eliminate debt which a loan modification does not do.

  2. Lawanna Peaker Says:

    Nice information!

Leave a Reply

Ask The Expert?

Have a question that hasn't been answered? Ask us a question by clicking here.

Search Blog

Featured Product

foreclosure home study course
"The Investors Complete Foreclosure Home Study Course - Only $47"

Discover a Proven System for Buying Real Estate Foreclosures 30%, 40%, and 50% Below Market Value. Generate Huge Returns Using This Step-by-Step Foreclosure System.

Learn More - Click Here

Build Your Wealth

See our investment properties

Looking for Great Returns and Positive Cashflow? Build your wealth by investing in real estate.

Check out our inventory! »

Free Foreclosure Reports

Affiliate Disclosure

We review products from time to time and receive compensation from the companies whose products we review. We review each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own...

Comodo SSL