The complaint has been investigated and
resolved to the customer's satisfactionResolved PNC Mortgage — loan modification
resolved to the customer's satisfaction
I feel for anyone who has tried to obtain a loan modification from PNC Mortgage! I looked everywhere and all I saw was "If You Are Having Trouble Making Your Mortgage Payments-Contact Your Lender" (including PNC Mortgage's website). What a joke! We contacted them in April, 2010 and told them we could no longer afford our monthly mortgage payment of $964. They sent us forms which we completed, faxed all the required back-up documents required. We were naturally sent to the government "MHAP" and we were denied. Our mortgage payment was less that the 31% of our GROSS income required by the program. HELLO-what about NET income Mr. Obama-this is what we have to make ends meet! Anyway we received our denial letter on June 25th and told that our file was being sent to the "in-house" loan modification program for review which took your NET monthly income minus your MONTHLY EXPENSES and then decided what an "AFFORDABLE" monthly mortgage payment should be. Sounded good to me! Anyway-after complying with all the requests from PNC Mortgage we received a foreclosure notice on August 24th!!! WOW!!! As of this date to my knowledge we have neither been accepted or denied by PNC for a loan modify. When we received the foreclosure notice we contacted NACA for help. That was another experience to say the least. When the "phone counselor" completed our budget, she informed me that we could afford $200 more per month than we are already paying! What a good laugh the mortgage company must have gotten when that was submitted!!! Never mind that after our monthly expenses versus net income we have approx. $700-$750 per month for a mortgage payment...Never mind had we known our home would have been foreclosed on we would have went to our local credit union and refinanced our home with a lower interest and monthly payment..forget that now...thanks to PNC Mortgage our credit is shot to H***!!!Never mind that our net income has been cut approximately $900 per month since we took this loan out...Never mind that due to being diagnosed with sleep apena, restless leg symdrome and COPD during the past yr. our medical expenses have increased tri-fold...We tried to do the right thing and now our home is in foreclosure mode!!! A rep of PNC Mortgage told me in June that if we caught our payments up we would no longer be eligible for a loan modification. I asked about the fact that if we didn't make our payments we might face a foreclosure and that was what we were trying to avoid by contacting PNC Mortgage. His advice to me was "Put the money you would use to make the mortgage payments in a savings acct. so you will have it when your need it"!!! So now that we have received a foreclosure notice from PNC Mortgage, told by NACA that they can't help us we have turned to an attorney who specializes in foreclosures and loan modifications to help us save our home! Did we have the money to hire an attorney?? Nope-we have had to take the money we have put back to pay our mortgage arrears (not all of it, mind you because we couldn't afford the monthly payments anymore) but a good chunk of the arrears and hire an attorney!!! We are not deadbeats, we are only asking for some help to get our mortgage payment down to a now affordable amount for us!! When we took out this mortgage in 2003 we got a fixed rate of 6.9%. Is this the going rate for a mortgage now with a good credit rating (until PNC decided to ignore our request for a loan modify and send us into foreclosure!)? Middle class America is getting the shaft from government and mortgage companies!!! Anyone else agree??? Please be thinking of us and hopefully the money we have paid this attorney will help us save our home and the "AMERICAN DREAM"...
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