Saturday, May 22, 2010

Green Light, RED Light

Things were bliss for 48 hours. We had a price on the house and we were moving and cleaning and BLISS. Okay, not all bliss. Moving is never any fun.

But three hours after we had brand new appliances installed in the home, our realtor called. The Bank of America, who is the primary mortgage, said that no one can pay PNC the $13,000 they want as the secondary mortgage. The Bank of America said that they will have to take $3,300.

PNC may accept this. Or, we were told on Friday, they might foreclose. They have that right.

Once again, I am asking for prayers. Wow, we could really use them.

3 comments:

David and Nina said...

No...you've got to be kidding! Prayers are going out for you! Hang in there.

The GruCru said...

SERIOUSLY? It amazes me that soemone's job is actaully to sell this house and they really, really stink at it.

Tina said...

This almost seems criminal . . . .and actually from what I have researched 2nd mortgages really have NO authority to do this. The first mortgage is your ace in the hole, so to speak. Of course, the only thing you can count on in this world is change . . . . . The second mortgage on the house I bought and am now renting totally went away . . . Goodbye! They had no recourse . . . . hmmmmmmm. Maybe it was because they were already in foreclosure that it was easier for us!