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PNC Short Sale Realtor
Short Sale Agents
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PNC Short Sale Agent
PNC Short Sale Specialists

PNC Short Sale

FREE Expert Services. FREE No Obligation Information.

Serving All of  Los Angeles County, California
Streamline PNC Short Sale Process with Certified, Licensed, Experienced California Short Sale Agents. Keller Williams Realty in Cooperation with PNC, we are now able to Short Sale PNC Bank Loans smoothly and easily. We have already Successfully Completed 50+ Short Sale Homes in The Los Angeles Area. All our Services are FREE to Homeowners.


PNC Short Sale Realtors | John and Mike | 818-424-8340 | Info@JohnSandMikeV.com

The PNC Short Sale Experience 

We have extensive experience dealing with the PNC Short Sale Department. PNC is somewhat antiquated in dealing with the short sale process. Hopefully PNC can catch up with modern day technology and streamline it's process. 

From list date to closing, the PNC short sale process averages about 5 months. We keep everyone engaged (seller, buyer’s agent, buyer) with weekly updates via email.  Throughout the whole short sale process PNC keeps the status with updates via e-mail, phone, and fax. Many of previous PNC short sale clients can attest, it is typically a smooth and painless process to complete a short sale through PNC Bank. If you have any questions regarding the PNC short sale process please call us- John and Mike (818) 424-8340 or emaill us at Info@johnSandMikeV.com.



PNC Short Sale Application


PNC Short Sale Process

We are Certified PNC Short Sale Agents | PNC Bank Short Sale Agent with over 20 years of Real Estate Experience. We have already Helped Many Good Down to Earth People Get Out of Their UnderWater Homes ...FREE and CLEAR. Certified, Licensed, and Approved Short Sale Agents for PNC Short Sale Homes. We Work Hard For YOU and:

  • ALL OUR SERVICES ARE FREE.
  • MOVE-OUT ASSISTANCE 
  • YOU RELAX. WE DO THE WORK!
  • CLEAR ALL DEFICIENCIES.
  • NO CLOSING COSTS.
  • PROTECT YOUR INTERESTS.
  • CURRENT on Payments OK!
  • BEHIND on PAYMENTS OK!
  • STOP the Foreclosure Process ASAP.

As a PNC Short Sale Agent we promise to do our Best to Short Sale your House - Hassle Free. We would love the opportunity to earn your business. Results may vary. Previous results are not indicative of your results. Not every Home owner will qualify for a PNC Short Sale or some of the benefits previously received by our clients.


Short Sale Agent Help


Call (818) 424-8340
Behind on Payments...OK
Current on Payments...OK
Short Sale Agent Pros



PNC Short Sale

1)  What is a Short Sale?

A short sale is the process by which a homeowner can sell a house for less money than actually owed on the Loan(s) Balance.

 2) How much does a PNC Short Sale Agent Cost ?

ALL our Services to you FREE. The Lender pays our Commissions. We have Successfully Negotiated No Closing Closts for All of our previous PNC Bank Short Sale clients and don't expect that to change with any of our future clients. All of our Clients have Walked Away from their Short Sale FREE and CLEAR and the majority walked away with Absolutely NO CASH out of Pocket!

3)  How Do we Qualify* For Free PNC Short Sale Agent Assistance?

  1. Hardship – There is a situation causing you to have trouble pay your mortgage.
  2. Monthly Income Shortfall – “You have more Monthly Expenses than Monthly Income.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

*Can We Qualify for PNC Short Sale without a Financial Hardship? The answer is very often Yes. More and more often, the short sale is approved. A hardship isn’t always necessary as the bank would often prefer to do strategic short sale than take it back and sell it for less later. Please SEE our page on strategic short sale.

4)  What are some examples of Homeowner Hardships in a PNC Short Sale? 

  1. A reduction in income through the loss of a job, disability, illness, or just the straight reduction in hours that a causes the inability to continue to make payments. 
  2. Marital difficulties – Separations and divorces are legitimate reasons a lender will consider a short sale.
  3. An increase in expenses – Reasons could include an increase in dependents, an illness, etc.
  4. An increase in debts – credit cards bills, medical bills, legal fees and other similar types of debt.
  5. Death – Death of a family member who was a contributing factor in keeping the mortgage current. Also the corresponding loss of income or medical bills associated with the death such as funeral expenses, etc.
  6. Relocation of job – The relocation should be due to a job change.
  7. Military service – There are some lenders that will accept being called into military service as an acceptable hardship.

Is there a possibility you could still do a bank of america short sale without an actual hardship? Yes it is possible. This is what is known as a Strategic Short Sale. A strategic short sale occurs when there is no hardship and the owner could continue to pay their mortgage. They consider just “walking away” but do not want to suffer the consequences of a Strategic Default (foreclosure). If it makes financial sense to the lender they may still consider a short sale where there is no hardship. In this case PNC Bank may ask you for a cash contribution. SEE our page on Strategic Short Sale

5)  Can I Short Sale My PNC Loan (House)?

Yes, if

  1. The Home's Market Value Has Dropped. Comparable sales must substantiate that the home is worth less than the unpaid balance due the lender.
6)  What is the Affect of a Foreclosure on my Credit Score?

A Foreclosure on your credit report can take 7-10 yearsto remove and can cost your credit rating (FICO) up to 200-280 points which is a very big hit.

7)  What is the Affect of a Short Sale on my Credit Score? 

The credit consequences of a short sale vary slightly. Clients have informed us that a short sale will show up on your credit report as a 'settlement', 'settlement for less than owed' or a "pre-foreclosure in redemption". A short sale credit score can drop by 50-100 points. 

There is no way to predict exactly how a PNC short sale is going to affect your credit for it. We've had some clients who have mentioned that they’ve been able to rebuild their post short sale credit score in as little as 12 months. Other people who have not maitained their credit with other items, well, it’s probably going to take a little bit longer in order to rebuild their credit.

8)  What are The Tax Implications of a Short Sale?

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. 

More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17. Ask your accountant to utilize Form 982 with your Return.

* You should speak to your accountant to determine the amount of short sale tax consequences, if any.

9)  What if I am Current on my Payments can I still Short Sale my house? 

YES. Many of our clients have had their PNC Short Sale Home listed while they were current on their payments. They were one step ahead of the pack.

10)  Foreclosure of My Home is very close to happening. Is There enough Time to Short Sale my Home? 

YES. The foreclosing party—in most cases a lender—can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from your short sale agent explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.

11)  What is the typical PNC Short Sale Process? 

  1. Seller signs a listing agreement with a PNC Short Sale Agent.
  2. A Buyer submits an offer to your Short Sale Agent.
  3. Seller accepts the buyer's purchase offer.
  4. Bank of America accepts the buyer's purchase offer.
  5. Transaction closes, then PNC Bank releases the lien.

12)  Does Everybody have to know that we are Listing our Home as a Short Sale? 

NO. As professional short sale agents, we do our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs are. Our Marketing to the general public Will Not indicate anywhere that your home is a PNC Bank Short Sale. However, the one place short sale agents are obligated to designate your home as a Short Sale is our MLS.

Only other Real Estate Agents should have access to this information. It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.

With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone.

13)  Short Sales are Impossible to do and take forever, is that true?

Are they impossible? Absolutely Not. We have a Very High Success rate in receiving PNC Short Sale Approvals. As a matter of fact  our success rate is 98+%. Do Short Sales take longer than Standard Sales? Probably. But depending on how many loans are on the property we expect anywhere from 60-120 days Maximum.

14)  The Market is really slow. Are Buyers interested in Short Sale Properties?

Don't Worry! In fact, we and other short sale agents are getting calls from buyers who say they only want to look at foreclosure and short sales. We expect multiple offers on your home within 10 days.

For buyers, short sales and foreclosures have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.

15) Short Sale My Home or do a Loan Modification? 

It Depends. The Facts show that only 10% of Loan Modifications get Approved by their Lenders and of the 10% approved, Homeowners were not happy with the small amount of change in their payments. But if your lender lowers your payment significantly, you are happy with your home, future maintenance & repair costs are affordable, and you feel that the home will appreciate back to it's loan balance then a loan modification is a good option for you.

However, The great majority of homeowners are now opting to Short Sale their home for the following reasons: 

  1. They are not with happy with the depreciation and drop in value of their home
  2. The potential repair and maintenance costs may put them right back into Default. (50% of Loan Modifications Default within 1 year)
  3. Their income and expenses will still be a struggle after the slightly reduced payments
  4. They Just want to move forward with their lives and start life anew.
  5. They wish to put their money towards a worthwhile investment, not a bad asset.
16) Should I Short Sale My Home or file Bankruptcy? 

It Depends. This is usually called The Option of Last Resort. As far as your Home is concerned a Bankruptcy usually just delays the inevitable. But it may be a good option depending on your financial condition and willingness to damage your credit for up to 7 years. A Bankruptcy typically also costs thousands of dollars to initiate.

Chapter 13
bankruptcy lets you pay off the late or unpaid payments over the length of a repayment plan you propose--3-5 years in some cases. But you'll need enough income to at least meet your current mortgage payment at the same time you're paying off the late or unpaid payments.

Chapter 7 bankruptcy will stall the foreclosure sale and give you two or three more months to work things out with your lender. Chapter 7 bankruptcy gets rid of your personal liability under the promissory note, but it doesn't remove the lien. Chapter 7 gets rid of debt but not liens--you'll still probably have to give up the house under the lien since that's what provided collateral for the loan.

A study done by the American Bar Association indicated that 96 percent of the people who filed for bankruptcy protection ended up in foreclosure anyway. Many people feel that bankruptcy will stop foreclosure and save their home. However, because it entails that you continue to pay your mortgage (Chapter 7) or that you consolidate all of your debt while still paying your mortgage (Chapter 13) it is usually not a long term solution.

With a Short Sale their are NO Costs to initiate and typically do Not have any Cash out of pocket costs. A Short Sale damages your credit score less and takes a lot shorter time to rebuild your credit from 1 - 2 years. But a Short Sale will not relieve other financial debts.

17) Should I Short Sale My Home or Let it go to Foreclosure? 

Foreclosure is The Absolute Worst Option
a Homeowner can choose. A Foreclosure can Damage your Credit for up to 10 years, and can lower your Credit Score up to 250 points. Your are continuously hassled by phone calls, letters, and door knockers with Notices of Default and Notices of Sale. Eventually there is a day of Reckoning. The Sheriffs show up to your door and you and your family are Evicted from your own home in plain sight of the entire neighborhood.

A Short Sale typically Costs you Nothing, you get to stay in your home during the short sale process, and sometimes PNC Bank will offer Cash Move-Out Assistance for your cooperation. You Sell your home with your acceptance, under your terms. The Home is Marketed by us like a Standard Sale and you get to leave your home and Neighborhood with Dignity

18) How Do I Short Sale My PNC Loan?

Contact us for a FREE Consultation. Call PNC Short Sale Agents John & Mike (818) 424-8340 or fill out contact the form provided on this page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations for you with only you best interests in mind, and you can rest assured that you have Certified Short Sale Agents working for you that will deliver a smooth, hassle free process. 

19)  How do I Start the PNC Short Sale Process?

Contact us for a FREE Consultation. Call PNC Short Sale Agents John & Mike at (818) 424-8340 or fill out contact form provided on this page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations for you with only you best interests in mind, and you can rest assured that you have Short Sale Experts working for you that will deliver a smooth, hassle free process.  

The information presented in this website is for informational purposes only and should not be construed to be formal advice. Please consult a tax accountant and attorney before making any decisions regarding your house, for legal advice, financial advice, or it's tax implications. This site is neither endorsed, nor sponsored by, nor affiliated with the PNC Bank Corporation.


Contact a PNC Short Sale Specialist

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Why is Short Sale with PNC The Preferred Option of Homeowners?
It STOPS The Foreclosure Process. Opportunity to Sell your home at NO COST to you, and even get move-out Cash assistance in most cases. Banks do not want to foreclose
on your property because the foreclosure process is incredibly costly. PNC Short Sale Executives have publicly stated that if a person is qualified for a short sale, and utilizes the services of a certified PNC short sale agent, the process needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.

A Short Sale is a sale of real estate in which the proceeds from the sale of a house falls short of the balance owed on the property's loan. The lender decides that selling the property at a loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit reports for the borrowers. This agreement most often releases the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.

John Scillitani and Mike Villella are CA Licensed, Listing Agents, Certified  Bank of  America Short Sale Agents, Certified REO Agents, and Buyers Agents. They are Company Wide Top Producers, Five star rated in client satisfaction and combine for over 20 years experience and Backed by the substantial resources and support of Keller Williams .

John Scillitani and Mike Villella

Mike Villella, CDPE, SFR, Realtor, worked as a general contractor working on various projects throughout the city, purchasing, rehabilitating, and re-selling homes after the Northridge earthquake. That catapulted Mike into Real Estate sales. As a Realtor, Mike continued to grow due to the fact that he was going to foreclosures sales and working with numerous investors. His vast knowledge of the Los Angeles basin from the Pacific Ocean to Orange County is considerable and quickly turned him into a successful veteran of the industry! Mike is Originally from Cleveland, Ohio.


John Scillitani
,
CDPE, SFR, Broker Associate, is a Graduate of Rutgers University with Dual Bachelors Degrees in Industrial Engineering and Economics. Licensed since 2002, His experience ranges from Being an Automotive General Manager to the Real Estate Business with both The Luxury Market and First Time Buyers. He has extensive Knowledge as a short sale agent and with Bankowned Homes. John was born in Brooklyn, NY and raised on Long Island, NY.


Why Us?

Short Sale Experience. Short Sale Certified, Approved, and Licensed. Recognized as one of the top Short Sale and Foreclosure Prevention Teams in the nation, John & Mike have been asked to speak at many short sale symposiums and short sale forums! We have successfully listed and Short Sold properties as  Bank of America Short Sale Agents, Chase Short Sale Agent, CitiBank, GMAC Agent, NationStar Short Sale Agent, PNC Short Sale, Wachovia, and Wells Fargo Short Sale Agents.

 
We will Negotiate with the bank on your behalf and have been very successful in protecting our Sellers interests including:
  1. Future Home Buying Credit
  2. Protecting Retirement Accounts
  3. Eliminating Tax  Liabilities
  4. Eliminating Deficiency Judgements.
All this at NO COST to you! Fill out form and Find out More!

A few more reasons to use John and Mike:

1) PNC Short Sale Agents John and Mike, can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

2) John and Mike- A PNC Short Sale Realtor can provide due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Short Sale Realtors can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. John and Mike, Short Sale Agent's title company or attorney can help you resolve issues that might cause problems at a later date.

3) A PNC Short Sale Agent can help you in understanding different financing options and in identifying qualified lenders. Short Sale Realtors can guide you through the closing process and make sure everything flows together smoothly.

4) When selling your home, John and Mike, a PNC Short Sale Agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold quickly and with minimum hassle.

5) John and Mike, PNC Short Sale Agents, act as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The Realtor Code of Ethics requires PNC Short Sale Agents / Realtors to utilize these cooperative relationships when they benefit their clients.

6) John and Mike, PNC Short Sale Realtors know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your Realtor, you do not have to allow strangers into your home. John and Mike, your Short Sale Agent / Realtor, will prescreen and accompany qualified prospects through your property.

7) John and Mike- A PNC Short Sale Realtor can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your Short Sale Agent can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

8) John and Mike, your PNC Short Sale Agents can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your Short Sale Realtor is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).




Please Call us for a NO CHARGE, Confidential Consultation, and if you Qualify for a Short Sale, Selling Expenses, Move Out Expense, and our Services in most cases, will be paid for by the Bank! Please Do Not Pay for any Services that may be available to you at NO CHARGE!

Why will a Short Sale Work?
Banks do not want to foreclose
on your property because the foreclosure process is incredibly costly. Bank of America, CountryWide, Wells Fargo, Wachovia, Washington Mutual, and even the federal government have all publicly stated that if a person is qualified for a short sale, the process needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.

CDPE 
Short Sale Agents with The CDPE, Certified Distressed Property Expert Designation have trained extensively to understand the solutions, and effective methods for dealing with homeowners facing the hardship of foreclosure. Don't risk your financial future and the potential sale of your home with a short sale agent who does not have the training, experience, or tools to best help your needs, Contact Us with Form Above or Call 818-424-8340 for prompt and caring assistance.

SFR
Short Sale Agent and Foreclosures — The New “Traditional” Transaction For many PNC short sale agent professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s market—they are critical functions of a short sale agent. And while short sales and foreclosures are not for the faint of heart, short sale agents with the proper tools and training can use these specialty areas to build their business for the long term.

Don’t Go It Alone — Choose an SFR Trained Professional
Designed for short sale agents, the National Association of REALTORS® (NAR) Short Sale Agent and Foreclosure Resource certification, or SFR for short, is a Comprehensive approach. NAR’s SFR certification is the only one of its kind that focuses on both the buyer and seller sides of distressed property transactions.

In conclusion, Short Sale Agents with the CDPE and SFR Designations have been trained in all aspects of the distressed property / short sale process, and know how to deal with the parties involved in foreclosures. Finding a CDPE can explain what options you have, and get you on the path to recovery.

Call our Team Leads John Scillitani, Broker Associate, CDPE, SFR, PNC Short Sale Agent and Mike Villella, Realtor Associate, CDPE, SFR, PNC Short Sale Sale Agent Direct at 818-424-8340 for Free Advice.

Certified Distressed Property Experts fully understand that selling your house, can save your family life, and save your future buying ability.


We are Certified PNC Short Sale Agents in the San Fernando Valley. And also PNC Bank Short Sale Agent servicing Los Angeles County and The San Gabriel Valley. Licensed California Short Sale Agents.