Foreclosures Help Information

Posts Tagged ‘Current’

Mortgage Foreclosure In Pennsylvania

Question: House foreclosrure?

I rented a house 6 months ago. I recently found out the landlord must not be paying the mortgage. A sheriff showed up at the door to serve the landlord with a civil suit. How long do i have before this foreclosure happens?(i live in pennsylvania) should i move out asap? keep paying rent??

>

Answer: Start looking for a place; once the foreclosure is complete, you may have to move out as your lease is not valid with a new owner thru a foreclosure;

Some basic 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.

Obama: "Small towns cling to guns or religion"

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

My sister has just received a notice from her bank that her house will be in foreclosure. The notice says that she has 30 days to react and 90 days to pay the mortgage company off and bring her mortgage current. Does anyone have useful information as to what she can do? She obviously doesn't have the money to bring current her mortgage payments and she has also tried to work with the lender but it seems as if they don't care. She called to to talk to them and to try to work out a deal with them many times but nothing worked.

Foreclosure Help Kentucky

Question: kentucky foreclosure homes?

i would like to see all the foreclosure homes with swimming pools in northern kentucky

>

Answer: best list http://www.theforeclosuresinfo.com/foreclosure-list.html

find few different foreclosure list that serves your state

KY Consumer Law Group Foreclosure Help