Legal Question in Real Estate Law in Pennsylvania
sheriff sale
I know of someone that has gone through a sheriff sale 2 years ago. Now they received a call from a collection agencie stating that loan was balance still owed. What do they do in a case like that. Can the collection agency freeze the person bank account.The dollar amount the collection was asking was $21,000
2 Answers from Attorneys
Re: sheriff sale
If there is a deficiency judgement the money may be collectible. A writ of execution could be delivered to the bank and you would be forced to declare your statutory exemptions. Many creditors will take substantially less than the amount due in leiu of going through the time and expense consuming process of executing the judgement. I offer free consultations.
Re: sheriff sale
Under Pennslyvani Law a Deficiency Judgment action must be filed within six months after the sherrif sale to fix the value of the property. If the property value is fixed less than the amount due on the mortgage there will be a deficiency due. Your friend should have been notified of the deficiency action. If none was filed then the mortgage by operation of law is deemed paid in full. I suggest you advised your friend to seek legal counsel. Gerald Hershenson Esq. 215-579-9390
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