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Summary:
| Judicial Foreclosure |
Yes |
| Non-Judicial Foreclosure |
No |
| Security Instruments |
Mortgage |
| Right of Redemption |
No |
| Deficiency Judgment |
Yes |
| Time Frame |
Usually 90 days |
Judicial foreclosure in Pennsylvania requires that first, a notice of intent to foreclose be sent via certified or registered mail to the borrower after the borrower is at least 60 days behind in payments. The borrower then has 30 days in which to cure the default. The notice must include a statement from the lender that the full balance of the mortgage will come due in the event of failure to cure the default.
If the borrower does not pay, the lender sues for an order to foreclose. Prior to filing the suit, a title search must be ordered and received by the clerk of the court.
If the court finds the borrower in default, an order of sale is issued and a sheriff’s auction scheduled. The Sheriff then has 30 days in which to serve the notice of sale upon the borrower. The borrower has 20 days in which to file an answer.
The sheriff will conduct the auction according to instructions from the court.
The borrower has the right to cure the default at any time up to one hour before the sale. Once the sale is complete, the borrower has no right of redemption.
The lender has six months in which to sue for any deficiency balance.
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