DO YOU NEED A REALTOR FAMILIAR WITH THE CITY OF PHILADELPHIA AND SURROUNDING AREAS?

Call Ty Harrell Today

Ty Harrell

Mobile: (267) 603-7779 or Office: (215) 646-2900

🏛️DO YOU WANT TO SELL YOUR HOUSE

  • If you answered yes, to any of these questions you're in the right place. Real Estate Ty has the answers and is ready to help you with your real estate process. Real estate deals can be an overwhelming task for any of us. That's why you need a professional Realtor you can trust and rely on. Let Real Estate Ty handle the heavy burden of real estate while you focus on your goals.

REAL ESTATE TY- THE REALTOR YOU CAN TRUST TO GET THE DEAL DONE.

UNDERSTANDING YOUR OPTIONS TO AVOID 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.

    Contact Ty to discuss your next steps.

IF YOU WOULD LIKE TO LEARN MORE ABOUT THE PROCESS OF SELLING YOUR HOME OR FOR INFORMATION ABOUT SELLING IN A SELLER’S MARKET - CLICK THE LINK BELOW. FOR MORE QUESTIONS ON WHAT YOU SHOULD DO BEFORE SELLING OR BUYING A HOME, CONTACT REAL ESTATE TY TODAY.

REAL ESTATE TY IS AVAILABLE TO HELP YOU WITH YOUR REAL ESTATE NEEDS

GOING THROUGH FORECLOSURE? I’M A CERTIFIED SHORT SALES & FORECLOSURE RESOURCE.

VISIT US

910 Harvest Drive, Suite 100 - Bluebell, PA 19422

Hours
Monday–Friday
10 am–6 pm