What happens if I fail to make payments during a foreclosure process?

If you fail to make payments during a foreclosure process in Pennsylvania, the steps that the lender can take to recover the debt depend on which type of foreclosure is being used. If it’s a judicial foreclosure, the lender will request a court order and may be able to take additional steps to sell the property or evict you. If it’s a nonjudicial foreclosure, the lender might have the right to impose fines, take the property without a court order, and proceed with a sale or evict you. Pennsylvania law sets out the process for foreclosure, which typically begins with the lender sending a notice of default for missed payments. If the default is not cured within a specific period of time, the lender can take further steps to collect on the debt. In a judicial foreclosure, the lender will file a foreclosure complaint with the court and the court will then issue a summons and complaint to the borrower. The borrower may be able to defend the foreclosure if they have a legal defense or dispute the debt amount or lender’s claim. If the lender is successful in the foreclosure, they will be able to take the property and the borrower may be liable for any shortfall between the sale price and the amount remaining on the mortgage loan. This means that you may be responsible for any difference between the balance of the loan and the amount that the property was sold for. Even if you receive a deficiency judgment, you may have defenses to foreclosure and foreclosure defense lawyers may be able to help you.

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What happens if I fail to make payments during a foreclosure process?

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