Provided we receive your application at least 38 days before a scheduled foreclosure sale.
Experiencing Financial Trouble?
Are you having trouble making your payments? If a life changing event is impacting your financial well-being, PNC wants to help.
Unexpected Events May Impact Your Ability to Make Your Home Loan Payments.
We understand and we're ready to help discuss how you can get back on track.
Life changing events impacting your finances can occur. A few examples to consider are the following:
- Are you unemployed?
- Have you had a reduction in your income?
- Does illness or injury prevent you from making your loan payments?
- Has divorce affected your ability to make loan payments?
- Has any other unexpected life event affected your ability to make your loan payment?
The first step is to contact us to discuss your personal situation. This will allow us to provide you with the right loan options to meet your needs and get you started on a home loan assistance plan that’s right for you and your family.
Key Steps to Getting Started
Let's review steps for applying for hardship assistance if staying in your home is an option you're considering.
To Submit a Hardship Application via Mail or Fax
- Download Hardship Application if you'd like to fill out and send PNC your Hardship Application.
- Complete the PNC Hardship Assistance Application.
- Submit your completed Hardship Assistance Application to us via fax (1-855-288-3974) or mail.
Supporting Documents:
- Download the Checklist to help stay organized throughout the Hardship Assistance process.
- Download the Application Guide for step-by-step instructions on successfully completing the PNC Hardship Assistance Application.
Understand Your Options
When considering your financial and home ownership options, think about your goals. We have various hardship assistance options that may fit your needs.
- Loan Modification Program
- Liquidation Foreclosure Alternative (LFA)
- Homeowner Assistance Fund
- Other Alternatives
Loan Modification Program
If you can no longer afford to make monthly loan payments, you may qualify for a loan modification to make them more affordable.
Am I Eligible?
Some of the initial eligibility guidelines for the Loan Modification Program include:
- Your loan payment ratio (including taxes, insurance, and home owners association dues) based on gross income, must meet program guidelines.
- If you previously defaulted on a payment during your Trial Payment Plan or Modification you may still qualify.
Print a hard copy of the application and mail or fax it to us:
Liquidation Foreclosure Alternative (LFA)
The Liquidation foreclosure Alternative includes additional foreclosure avoidance options, such as Short Sale and Deed-in-Lieu of Foreclosure.
Am I Eligible?
To be considered for LFA, you must be considered for other loan modifications or retention programs that are offered. You may have the opportunity to be considered for LFA if you lack other options and request a short sale or deed-in-lieu.
We will consider you for LFA if you:
- Do not qualify for a Trial Period Plan OR
- Do not successfully complete a trial period OR
- Are delinquent on a modification by missing at least two consecutive payments OR
- Request a short sale or deed-in-lieu
You must provide a marketable title, free and clear of other mortgages, liens, or other encumbrances.
Homeowner Assistance Fund
The Homeowner Assistance Fund (HAF) was created by the American Rescue Plan Act to help homeowners struggling to make housing payments during the COVID-19 pandemic. The Homeowner Assistance Fund provides up to $50 million to each state, Washington D.C. and Puerto Rico. The U.S. Department of Treasury will issue the funds to each state once the U.S. Department of Treasury has approved their Homeowner Assistance Fund program guidelines and requirements. Please see below for further information on how you can reach out to your state to find out if you are eligible to receive Homeowner Assistance Funds.
Where can I find more information about my State’s Homeowner Assistance Fund (HAF) program requirements?
More information about Homeowner Assistance Fund (HAF) by state can be found at: https://www.ncsha.org/homeowner-assistance-fund/.
Other Alternatives
We understand that there are events and circumstances that may cause you to fall behind on your loan payments. If you have found yourself in this situation, please contact us. A variety of assistance programs may be available depending upon your circumstances.
Frequently Asked Questions
If you signed the Note and Mortgage, you are still liable for the payments.
A divorce agreement does not alter your obligation to make payments.
No. Deeding your interest in the property to someone else only means that you no longer own the home. You are still obligated to make payments, as stated in your Note and Mortgage.
You can reinstate your loan at any time up to the confirmation of foreclosure sale date if you pay all past due payments plus any fees and costs associated with the foreclosure.
In some states, the mortgagor can redeem the property after the Sheriff sale date. Redemption involves a total due payment to a court official, for the amount that was established by the foreclosure action.
In a Short Sale, you will list the property with a licensed Real Estate Agent. The sale of the property is typically for less than the full amount due on the loan. When an acceptable offer is received, the servicer or investor must approve the offer and terms of the contract. Upon completion of the short sale, the lien on your property will be removed; however, you may continue to be responsible for any deficiency amount owed on the loan after the short sale proceeds are applied. There may be tax consequences if the deficiency amount is waived. Please consult your tax advisor.
If you have received an offer to buy your house and haven’t started the Short Sale process, you might still qualify. Contact us immediately for details.
With the Deed-in-Lieu of Foreclosure, you voluntarily transfer ownership of your property to the servicer or investor in full satisfaction of the total amount due. The servicer or investor may require that you list and market the property before they agree to a deed-in-lieu arrangement.
Other terms and conditions apply to the Short Sale and Deed-in-Lieu programs. Contact a PNC Borrower Assistance Representative for more details:
Mortgage: 1-800-523-8654
Home Equity: 1-866-622-2657 ext. 66520
There still may be options and opportunity to retain or liquidate the property. Please contact a PNC Borrower Assistance Representative for more details:
Mortgage: 1-800-523-8654
Home Equity: 1-866-622-2657 ext. 66520
You should contact the lender or the company identified on your monthly loan statement to confirm the identity of your loan servicer.
Both Fannie Mae and Freddie Mac have established toll-free telephone numbers and websites to make this data available. On the website you may enter information to determine if either agency owns or has securitized your existing loan.
Contact Resources
Fannie Mae: 1-800-2FANNIE (8 a.m. – 8 p.m. ET)
www.knowyouroptions.com/loanlookup
Freddie Mac: 1-800-FREDDIE (8 a.m. – 8 p.m. ET)
Resources
- Financial Assistance Documents
- Additional Financial Hardship Assistance Documents
- Outside Resources
Financial Assistance Documents
- Hardship Assistance Application – Information and forms to help begin the eligibility process for financial assistance
- Hardship Assistance Checklist - Detailed checklist to help you stay organized throughout the Hardship Assistance process.
- Hardship Assistance Guide - Helpful guide in starting the Hardship Application process
Additional Financial Hardship Assistance Documents
- Mortgage and Home Equity Loan Modification Appeal Form
- Monthly Household Expenses/Debt Addendum
- Dodd-Frank Certification Form
- Sample Profit and Loss Statement for Self-Employed Homeowners Form
- Borrower Hardship Certification Form
- Social Security Administration Authorization Form
- Statement of Information Form
U.S. Department of Housing and Urban Development:
http://portal.hud.gov/hudportal/HUD
NeighborWorks®:
http://nw.org/network/index.asp
Office of the Comptroller of the Currency (OCC):
http://www.helpwithmybank.gov/
Hope Now:
Related Resources
PNC and PNC HomeHQ are registered service marks of The PNC Financial Services Group, Inc. ("PNC"). PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
- Copy
©2023 The PNC Financial Services Group, Inc. All rights reserved.
PNC Bank, National Association. Member FDIC
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.