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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Judicial |
| Time to respond | Foreclosing party must serve 30-day notice of intention to foreclose on homeowner by certified mail. At the same time it must send a separate notice explaining homeowner’s right to apply to Pennsylvania Housing Finance Agency for assistance. After foreclosing party files foreclosure lawsuit, homeowner has 20 to 30 days to respond. |
| Reinstatement of loan before sale | Until one hour before the bidding at the foreclosure sale, but a maximum of three times in one year. |
| Redemption after sale | No |
| Special protections for foreclosures involving high-cost mortgages | None |
| Special state protections for service members | Pa. Stat. Ann. tit. 51, § 4105 |
| Deficiency judgments | Allowed if foreclosing party files separate lawsuit after sale |
| Cash exempted in bankruptcy | About $11,000 for one person, $22,000 for a married couple under federal bankruptcy exemptions |
| Notice to leave after house is sold | No special provisions for evictions following foreclosure. New owner will likely have to go to court to get an eviction order. Court-ordered evictions usually take two weeks to a month, depending on whether or not former owner responds to the lawsuit. |
| Foreclosure statutes | Pa. Stat. Ann. tit. 35, §§ 1680.402c to 1680.409c; Pa. Stat. Ann. tit. 41, §§ 403 to 404; Pa. R. Civ. P. 1141-1150 |