Posts Tagged ‘PNC mortgage’

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!!!

My mortgage company, PNC, has accepted a shortsale offer on my house.

October 30th, 2010 by Jarad

Question:  My mortgage company, PNC, has accepted a short sale offer on my house. I owe approximately $149,000 and the accepted offer is for $115,000. Coinciding with my application for short sale, PNC moved forward with foreclosure. The court, in Pennsylvania, granted judgement in foreclosure for the owed mortgage balance plus legal fees. Based on what I have read, because I do not have a second mortgage, HELOC and have not refinanced I am at low risk of being sued for the deficient balance after short sale. My concern is that PNC will, however, pursue me for legal fees involved with the foreclosure even though the short sale was accepted post hoc. Can you provide any insight or advice?

Answer:  – Most of the time banks won’t come after you for just legal fees, if they come after you, they will file a judgment for the amount they lost because it costs them a great deal more to pursue someone for a deficiency. So unless they are confident you can pay, they typically will 1099 the homeowner instead. And if you’re like most homeowners, the debt relief act will counteract the 1099 or you could claim insolvency. Best to talk to you accountant if you have specific questions.

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