In Pennsylvania State the foreclosures a judicial and are processed through the Court. The entire foreclosure process takes about 10 months, excluding the pre foreclosure period.
For the foreclosure process to be initiated, the borrower should have delayed his dues for a minimum period of 60 days. The lender has to send at least 2 letters to the borrower informing him of his default of payment before beginning the foreclosure process. The borrower shall have a time of 2-4 months during this period to try and prevent the foreclosure process by making good the default payments.
If the borrower fails to make good the default of payment, the lender has got the right to proceed with the foreclosure process to recover the debts due from the borrower. Before the filing of the foreclosure, a title search for the property is made and is received in about 20 working days from the date of filing for the title search.
The borrower is notified of the foreclosure action and is given a period of 30 days to respond, before the court can order a sale of foreclosure in order to recover the debts. If there is no response from the borrower, the court can order the sale. The borrower can stop the foreclosure sale process anytime up to one hour before the auction sale by paying all the debts in full, along with costs and interest.
The notice of sale is put up by the county Sheriff in a date not less than 30 days from the date of the sale. The notice of sale is also put-up at the property premises and is published in the newspaper once a week for 3 consecutive weeks. This advertisement of sale shall be in one general newspaper and in one legal newspaper.
The County Sheriff oversees the sale which normally takes place in a period of 1-2 months from the date of judgment. The property is sold to the highest bidder. The Sheriff's sale may be postponed by 100 days without any recourse to the Court. For any further postponements a court order has to be obtained.
The occupants of the property shall vacate the premises within 20 days of the writ of the sale by the Sheriff. It he premises is not vacated within the period of 20 days, the attorney may inform the Sheriff of the non-eviction. The Sheriff may act upon personally to evict the premises within a period of 30-90 days from the date of completion of the sale, and for such eviction the lender shall provide the movers and a locksmith.
In the Pennsylvania State, the borrower can redeem the property by paying all the dues, along with costs and interests, up to one hour before the foreclosure sale. Once the sale is completed, the borrower has no rights of redemption.
If you need more information about Pennsylvania foreclosure laws, you should contact a foreclosure lawyer, or contact us so we can recommend one for you.