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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Judgement Posted by George on September 01, 2010 at 4:37 PM In Reply to: Re: Judgement posted by Pepper on August 31, 2010 at 2:43 PM The filing fees mentioned in another post are minor compared to the attorney fees. How much underwater were you when you were notified that PNC bought the 1st & 2nd? It could have been a several weeks or a couple months after PNC reviewed the loans during their due diligence. I'm trying to get an idea at what price PNC could have paid for the package. Granted not all loans in the package are like yours, but lenders usually sell their distressed packages within a broad expected loan loss range at the time of packaging. Typically banks may not be as aggressive as smaller private companies purchasing secondary market loans in pursuing deficiencies, but that's not a given because we have no inside knowledge of how aggressive PNC is. In any case, lenders will compromise and obviously you'll be notified when any potential lawsuit is brought against you. You'll have plenty of time to settle before any lawsuit and it is to your advantage to settle before the lawsuit is commenced. The worse thing you can do is to avoid all communication before a potential lawsuit. Selling your investment properties in a down market could take a while unless you discount the properties for quick sell further reducing your net equity. Seems like an radical approach for an event that's not even assured. Without knowing your full financial situation I would suggest waiting and compromising if pursuit of the deficiency actually occurs. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : The filing fees mentioned in another post are minor compared to the attorney fees. : How much underwater were you when you were notified that PNC bought the 1st & 2nd? It could have been a several weeks or a couple months after PNC reviewed the loans during their due diligence. : I'm trying to get an idea at what price PNC could have paid for the package. Granted not all loans in the package are like yours, but lenders usually sell their distressed packages within a broad expected loan loss range at the time of packaging. : Typically banks may not be as aggressive as smaller private companies purchasing secondary market loans in pursuing deficiencies, but that's not a given because we have no inside knowledge of how aggressive PNC is. : In any case, lenders will compromise and obviously you'll be notified when any potential lawsuit is brought against you. You'll have plenty of time to settle before any lawsuit and it is to your advantage to settle before the lawsuit is commenced. The worse thing you can do is to avoid all communication before a potential lawsuit. : Selling your investment properties in a down market could take a while unless you discount the properties for quick sell further reducing your net equity. Seems like an radical approach for an event that's not even assured. : Without knowing your full financial situation I would suggest waiting and compromising if pursuit of the deficiency actually occurs. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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