If anyone has any successful strategies that have worked with PNC then please share! I applied for HAMP at their suggestion in 11/09 and spent 7 months making trail payments until 6/10 when they sent notice that we were denied due to 'Excessive Forbearance' and 'cannot yield an affordable payment' which is frustrating because I was current on the mortgage before entering the trial period and made every trial payment but in essense they are telling me I can't afford my house! It seems like they think we are a lost cause because we were also denied for an in house modification - no reason for denial given for that. Now they have sent back my last 2 payments and sent out a notice of foreclosure. My income has actually increased by $2,000 per month since I first applied for HAMP so I have reapplied and sent all info into PNC but am getting mixed answers from internet/PNC/counselors on whether or not I am eligible to reapply since I have been on a trial program but denied. So where are my burning questions:
Loan amount is $522,000 - We have an income of $12,000 per month, we CAN make a payment, I have some money in savings, plus my income is up - seems like we are good candidates for them to work out an option rather than conducting a costly foreclosure, but it certainly doesn't seem that way by the results i am getting! Any advice is appreciated!
- Am I still eligible for HAMP?
- The investor on my mortgage is non GSE (not FannieMae or Freddie Mac) does this hamper efforts to get HAMP accepted?
- Why does PNC act so indifferent? There has been no collection calls, no contact at all really unless i call them? Is this just how they do business? I went from the trail program, to being considered for inhouse mod then basically straight into foreclosure status with no one really telling me what I owe in full or trying to work out a payment arrangement. It just seems like they are dead det on foreclosing?
- Sale date has been set for 10/2/2010 - what do I do from here if I am committed to keeping my home?