Has anybody settled a Heloc with PNC bank? I have heard they are one of the worst to settle with. I owe them about $85K - I think it is a purchase money heloc in California but I am not sure because I used the money to buy the house, then about a year into it I paid back about $30K to the Heloc, and then I wrote a check for $30K 6 mos later. So maybe $30K of the money is non purchase? Not sure if they can break a loan apart like that. I never refi'd.
I called about a settlement and they said they don't settle and asked for 85%!!!! The house is underwater big time. I haven't paid since Jan 20.
Interestingly enough, he mentioned that they do offer settlements. No numbers were thrown out there, but the door was opened. I am applying of a loan mod on my first and want to get that in order before I negotiate with PNC. Please keep me informed of your experience and I will do the same. Good luck.
By the way, this has been a wild year for me. Back in March, I completed a settlement with Wells Fargo - $130k for $40k. I am hoping that my negotiations with PNC go as well. Using the same coach!
All the best.
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Sub: #1 posted on Fri, 05/28/2010 - 14:38
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hope that helps
Sub: #2 posted on Mon, 05/31/2010 - 12:38
Sub: #3 posted on Tue, 06/01/2010 - 15:23
They actually can't foreclose as the second mortgage holder unless they wanted to pay off the first. Lol.
I still haven't settled. They dropped to 15%.
Sub: #4 posted on Sat, 08/21/2010 - 14:22
They actually can't foreclose as the second mortgage holder unless they wanted to pay off the first. Lol.
I still haven't settled. They dropped to 15%.
Did you modify your first? How did you get the process started. I was actually told by my states AG office that a car is a luxury item (how would I get to work where there is no public tranportation) and that is what PNC would use against me for a modification and or settlement.
Sub: #5 posted on Sun, 08/22/2010 - 10:03
I am looking for direction. I would love to settle this, I have been told that they have settled for less than 5%.
Sub: #6 posted on Sat, 12/18/2010 - 12:40
Sub: #7 posted on Sun, 12/19/2010 - 20:25
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Sub: #8 posted on Thu, 02/17/2011 - 10:45
Sub: #9 posted on Fri, 02/18/2011 - 02:01
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Sub: #10 posted on Wed, 02/23/2011 - 14:53