Economy
9:03 am
Mon December 10, 2012

PNC Halts Evictions

Pittsburgh-based PNC Financial Services is suspending evictions this holiday season. No one will be kicked out of foreclosed homes for which PNC is the investor.

“We hope this suspension provides families who are experiencing financial hardship some stability over the holiday season,” said PNC Mortgage CEO Saiyid Naqvi. 

The company is not releasing details on how many families this could impact but PNC spokesperson Fred Solomon said it could be a substantial number given that PNC holds mortgages “from coast to coast.”

Foreclosures rates are falling nationwide, but PNC still feels the numbers are too high.  “We would like to see that change,” said Solomon.  “We would prefer that our customers call us so that we can help them bring their accounts up to date.”

Solomon said PNC offers several programs both through the federal government and within the company that can help owners stay in their homes.