Pennsylvania Foreclosure Law Summary
Stop Pennsylvania Foreclosure
Quick Facts
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instrument: Mortgage
- Timeline: Typically 90 days
- Right of Redemption: No
- Deficiency Judgments Allowed: Yes
In Pennsylvania, lenders may foreclose on a mortgage in default
by using the judicial foreclosure process.
Judicial Foreclosure
In Pennsylvania, the lender must send a notice of intent to foreclose
to the borrower before any foreclosure proceedings may begin.
The notice of intent must be sent, by first class mail, to the
borrower, at their last known address and if different, to the property secured
by the mortgage. The notice should not be sent until the borrower is at least sixty
(60) days behind in their mortgage payments.
In the notice, the lender must make the borrower aware that his
or her mortgage is in default and that it is their (the lender's) intention to accelerate
the mortgage payments if the borrower does not cure the default within thirty (30)
days. This means that the remaining balance of the original mortgage will come due
immediately.
If the borrower does not cure the default by paying the past due
amount, plus any late charges that have accrued, within the thirty (30) days, the
lender may then file a suit to try and obtain a court order to foreclose on the
property.
If the court finds in favor of the lender and issues an order
of sale, the property will be sold at a Sheriff's sale under the guidelines established
by the court. The borrower has the right to cure the default and prevent the sale
at any time up to one hour before the Sheriff's foreclosure sale.
Lenders have up to six months after the foreclosure sale to file
for a deficiency judgment. Borrowers have no rights of redemption once the foreclosure
sale is complete.
More information
on Pennsylvania foreclosure laws.
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