Pennsylvania Foreclosure Law

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Pennsylvania Foreclosure Laws

Typical Pennsylvania Foreclosure Time Frame – Typical Pennsylvania foreclosure times are approximately 90 days.

Judicial Foreclosure – Yes

Non-Judicial Foreclosure – No

Types of Security Instruments – Mortgage

Right of Redemption Period – No

Pennsylvania foreclosure laws allow lenders to only use a judicial foreclosure process in order to remedy a defaulted mortgage.  The lender is required to mail to the borrower certified or registered mail a Notice of Intent to Foreclose.  This cannot be done until the borrower is a minimum of 60 days behind.  The borrower is then given a period of 30 days in which to correct the default.  The notice that is mailed to the borrower is required to include a statement from the lender explaining that if the default is not corrected the entire mortgage will become due.

According to Pennsylvania foreclosure law, if the borrower does not correct the default, the lender is required to sue the borrower for an Order to Foreclose.  Before the lender is allowed to file the suit, a title search is required and must be received by the court clerk.

If the court determines that the borrower is in default, an Order of Sale is issued and an auction conducted by the sheriff is scheduled.  The sheriff then is required to notify the borrower by serving a Notice of Sale.  The borrower then has a period of 20 days in which to respond to the courts. 

The sheriff will then proceed to conduct the auction in accordance with the terms and instructions that the court has outlined. 

Pennsylvania foreclosure law allows the borrower to correct the default up until one hour immediately before the sale, however once the sale is completed there is no right of redemption available. 

Additionally, the lender in Pennsylvania has a period of six months in which to sue for a deficiency judgment.

For more information on Pennsylvania foreclosure laws click here.

 

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The information found on this site is not intended to be legal advice. The foreclosure process is highly case specific and laws vary throughout the United States. Please seek professional legal counsel before entering into any contract regarding any real property or stopping the foreclosure on any real property. By using this site you consent to the terms posted here.