Update to my offer to settle second with PNC

[Ann]

A few months ago I was approached by PNC to do a short sale on my second mortgage. My only reason for doing so is to remove the lien. I gave them all the information they asked for except I would not sign a document stating I was responsible for back payments. I did not hear anything from them until yesterday. They sent a letter saying I did not complete all the required documents and that they have tried to contact me about this. Wrong! No they have not. I have been waiting for them to call and they have not. Anyway the letter stated I had until Friday of this upcoming week to complete the required documents or they would withdraw from the whole process.
I have been told by others here not to sign the document they are asking me to sign. However, (and not that I actually will) it does have a disclosure on the back that states if you have been discharged from a bankruptcy you can disregard this. I am wondering if I should go to my lawyer and ask him what I should do. I want to get these idiots off my back. I know they may just wait for more equity to build and then force a foreclosure but I just cannot believe that is going to be cost effective for them. Can anyone chime in and tell me what you think? Thanks!

[keepmine]

If you're not comfortable with the language then of course ask an attorney for there opinion.

[Pandora]

Ann,

Why are you haggling with PNC still? While I understand your desire to have the 2nd lien released, the bottom line is PNC is in the business to make money - not lose it - and for them to foreclose the 1st would have to release their interest for PNC to do so. PNC will get no money either way as the 1st lender must be paid before all others.

Its only been 8 months since you were discharged - its still way too early to try to negotiate settlements IMO - give it time - or..simply stop worrying about the 2nd so much, you didnt reaffirm either mortgage. Generally unless you have equity or the 1st is close in value to the 2nd, the 2nd mortgage lender will not foreclose.

I'm still confused as to why you even entertained the idea of a short sale on the 2nd mortgage only?? How would that be possible w/out the 1st being included in the short sale? So you're trying to sell your house currently?? That would be the only reason to pursue a short sale at this juncture. Your house is not going to jump in value in the next year and get sudden equity...

If you're merely planning on staying for a while, then calm down, sit back and enjoy spring...breathe... you have time.

[Ann]

Pandora,
Appreciate your input! No, I'm not selling my home. PNC claims they only do settlements through their short sale department. They know full well that I am not selling at least no now. In another year or so I do hope to sell and it will be a real hassle if I still have a lien with them. At this point my first mortgage is now maybe what I could sell it for. That is a maybe. I just want them to go away and not have to worry about them when the time comes to move. I know I have the right to walk but I just don't want to go that route. I hope that makes sense to everyone. Anyway I just contacted them about their letter and gave them the reason I will not sign the document that states all interest that accrued will become due and any other amounts due on my next statement. Here is a thought. If I have been discharged and I do sign that (just to go through their silly procedures and get this thing moving) am I legally on the hook again for it even though there was never a reaffirmation? I know I know everyone is going to think I'm crazy to even entertain the thought but just want them to go away. Anyone?

[Pandora]

Ann

If you need phone numbers / emails of the highest people at PNC, I have them (dont ask how I got them ); PM me and I'll give them to you. I know its frustrating working with them, they're our 1st mortgage and trust me, I know how bad they can be.

I hope it all works out for you - hang in there!