Legal Question in Real Estate Law in Pennsylvania

Re: Forbearance on a foreclosure?

No. But, you can't force the issue either. You can use certain techniques to stay the foreclosure sale though with an attorney's help.

Re: Forbearance on a foreclosure?

This will require an answer by a Pennsylvania attorney. I practice in California, and the laws are likely to be somewhat dissimilar. This would be especially true if the loan is an old-style mortgage without a power-of-sale like a deed or trust has, and as some more modern mortgages also have, thus requiring foreclosure through the judicial process (in court). The PA law might give the creditor only one bite at the apple.

If this were happening in California, I'd have to say that the lender can call off or postpone the foreclosure, as far as I've ever heard, at the whim of the trust deed beneficiary (note holder) or as a result of negotiating a stand-still or forbearance period. There is also the borrower's right to redeem pretty much up to the date of sale.

Re: Forbearance on a foreclosure?

This will require an answer by a Pennsylvania attorney. I practice in California, and the laws are likely to be somewhat dissimilar. This would be especially true if the loan is an old-style mortgage without a power-of-sale like a deed or trust has, and as some more modern mortgages also have, thus requiring foreclosure through the judicial process (in court). The PA law might give the creditor only one bite at the apple.

If this were happening in California, I'd have to say that the lender can call off or postpone the foreclosure, as far as I've ever heard, at the whim of the trust deed beneficiary (note holder) or as a result of negotiating a stand-still or forbearance period. There is also the borrower's right to redeem pretty much up to the date of sale.

Re: Forbearance on a foreclosure?

It really depends on the lender. They can grant you time to sell it if they want to. Remember they would prefer getting all their money rather than having a house to deal with.

The question is will it be better for them to have you try to sell it. Or just have the sheriff sell it.

If you have any questions feel free to contact me. The initial consultation is free.

{John}