PNC Mortgage Inc. Short Sale

PNC Mortgage Inc. Short Sale Process

Mainly it depends who your investor is but most of the lenders will want that you first apply for Loan Modification and when you have been declined for it the short sale process is pretty simple:

1. Our agent will place a phone call to the PNC Mortgage Inc. and talk to their councellor to initiate the short sale process.
2. PNC Request for Mortgage Assistance for will have to be completely filled and submitted.
3. It will be required to schedule and complete a broker’s price opinion (Some investors require two interior inspections)
4. Numbers for purchase prices and closing costs will have to negotiated with PNC about Short Sale Fees And Costs To Be Paid Out Of The Seller’s Proceeds.
5. Lender (PNC) Mortgage Provides A Response To Short Sale Offer Made.

Sadly the short sale process with PNC Mortgage Inc. is never easy. When applying for the short sale it sometimes feels like that something always comes up. It is very typical to repeat the same steps over and over when dealing with short sale negotiators. While dealing with PNC short sale process we will have to run from department to department. The Loan Modification Department maybe needs to close it out, or the short sale department doesn’t have someone assigned to PNC Mortgage Customers Service Department; Above all you need to know better when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their application, getting denied, and not being able to figure out what happened. We can help you review any declines.

PNC Mortgage Short Sale Timeline

While dealing with the short sale it can greatly help the process if you know what effects the timeline of the short sale process. These are just a few of the hoops we have to jump through when dealing with a short sale.

• For one, PNC is a company that works only as a servicer of mortgage notes. PNC Short Sale Application is generally only a piece of what governs PNC’s mortgage servicing as they have to bide by the PSA or Pooling and Servicing Agreement that sets the rules for each and every loan; This contract is directly between servicer and investor. The investor for which PNC is servicing do not allow them to take all the decisions themselves so this means that for decisions they cannot take themselve they have to get permission from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers. The more parties you have to deal with the longer it’s going to take.
• Additionally, The fact that whether your PNC loan has a sale date or not also greatly effects the timeline. PNC can be really tough to deal with when it comes to stopping the sale so the PNC short sale process can be completed. If you can get a value completed your chances of getting bumped up majorly improve. As a loan servicer they have homes being sold at auction every day. Sale dates even for the coming week are not worked with ugency you would expect. As a first come first serve business model it can also be influenced by foreclosure status and proximity to the upcoming sale date (if applicable).
• Finally, not all negotiations are equal; This goes for both sides. Often miscomunication is the number one reason why a short sale fail. People become very specialized in this niche of representing homeowners (borrowers) infront of PNC Mortgage Inc. in these financial application processes to find mortgage assistance. Often you will be put though the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are.

PNC Mortgage Inc. Short Sale Timeline Conclusion: Your PNC Short Sale Timeline will vary based on many different factors. Decisions that can be made in house will clearly be quicker than those that have to be sent out for appoval., what the value comes back at from the appraisal completed by PNC’s Short Sale Department compared to what the offer is that is being made to them, how fast PNC Loss Mitigation department received the PNC’s Short Sale Application documents are received (readable) and other factors will come together to effect how long it will take for your PNC Home Loans Short Sale to be Approved.

How To Fix A PNC Home Loans Short Sale Decline?

Often dealing with PNC Mortgage and how they deal with short sale buyers offers being declined may be confusing. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your PNC short sale offer was rejected. Have us review your declined short sale for free by calling us at 888-934-3444.

PNC Loan Servicing Contact Information

PNC Mortgage Customers

 PNC Consumer Complaints and Reviews