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PNC Mortgage / stay away

Review updated:

PNC's Home Modification program is nothing short of a Nightmare. After losing my job, being diagnosed with fibromyalgia and having 2 kids in college PNC advised us to apply for a loan modification. At the time ALL of our payments were current and we were told we would have an answer within 3 months. After a year of paying our agreed upon reduced payment we were denied. Although we income qualified at the time of our application my husband now had a second job. The position is perdiem and not guaranteed income. Despite this fact PNC counted it against us. Furthermore they lost our paper work and required that we resend the same documents 4 times. They failed to communicate with us and told us several times they had everything and we were in final review. When we called the next week shockingly they were missing documents. Letters were sent to us weeks later and we were placed on hold for an hour each time we called. We asked them on several occasions if we were in jeopardy of losing our home and told NO. We feel that had PNC handled our application in a timely and professional manner we would NOT be in this situation. We are now in bankruptcy but signed a reaffirmation with PNC. Prior to this experience we had Excellent credit and could have refinanced at a much lower rate.


They are now seeking over 5000 from us the difference of our full payment and our reduced payment. In addition they have hired Steven Baum's office and are starting a foreclosure. We feel like the program is a TRAP. We paid monthly in good faith for the entire year. No where in the agreement did it say we were jeopardizing losing our home. Had they told us up front we would have NEVER gone through the process. We have three teen age daughters and six pets. Our youngest is in tenth grade and now in jeopardy of leaving the school she has attended since kindergarten. Our home was new construction in 2003 and our 2.5 acre wooded lot is now a park like setting. Our life's savings is in this home and PNC is aware that we have equity. We believe that is why they are trying to take our home. The entire process feels predatory in nature.

Je
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Comments

  • Ja
      Jan 05, 2011

    That is typical with PNC..depending on what state your in you could have some options...I work with the National Mortgage Relief Center and the American Consumer Advocates Law Group..please feel free to call for some free advice..Janice Hunter [protected] ext 233

    +1 Votes
  • Li
      Jan 26, 2011

    FINALLY HELP HAS ARRIVED- CURRENTLY BEING INVESTIGATED PNC IS GOING TO HAVE TO ANSWER!!
    Mortgage-Related Issues and Home Affordable Modification Program

    Strange & Carpenter IN LOS ANGELES is investigating mortgage-related issues and whether Wells Fargo; CitiMortgage; American Home Mortgage; Litton Loan Servicing; OneWest Bank; Aurora Loan Services; Ocwen Financial Corp.; Wachovia; Saxon Mortgage Services; and PNC Mortgage are complying with the loan modification requirements of the federal Home Affordable Modification Program ("HAMP"). Please contact us for a free consultation if you are the borrower of a mortgage loan with one of these lenders/loan servicers who applied for and was determined to be eligible for a HAMP loan modification, but did not receive a permanent loan modification.
    0 mins ago by LIVESTRONG2011 0 Votes

    Strange & Carpenter-- RE PNC MORTGAGE ... CURRENTLY INVESTIGATION FOR CLASS ACTION LAW SUIT
    12100 Wilshire Boulevard,
    Suite 1900
    Los Angeles, CA 90025
    Toll-free: [protected]
    Fax: [protected]
    Map and Directions

    +1 Votes

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