Short Sale with PNC Bank

By
Real Estate Broker/Owner with Resident Team Realty, LLC & Toni's Property Management LLC

 

I am currently working a short sale and PNC Bank holds the second mortgage. Is there anyone out there that can give me some feed back with this lender? The file is currently being worked by a title company I have trusted with the negotiation. They tell me that the only way to correspond with PNC is to fax them and wait for a response. It has now been a week waiting as the first mortgage approval is running out. We also endured a foreclosure from the HOA. I was told the file was done after the foreclosure. So I called the attorney that handled the foreclosure as the HOA had the highest bid as there wasn't any interest. The informed me, although they are the new title holder of the property, they would hold the deed in escrow and proceed with the short sale and they would deed the home back to my clients, if and when PNC Bank agrees to the short sale.

All that said, I am looking for feed back from any of you that have dealt with PNC Mortgage. How did you communicate with them? I feel the title company is not showing the urgency that is needed, and not being truthful as to the process with PNC.

Thank you

 

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