- 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.
