Philadelphia Foreclosure Laws & Lawyers

Although Philadelphia foreclosure rates are lower than the national average, in March 2009, the total number of houses in foreclosure spiked for a third month in a row.  Total Philadelphia foreclosures numbered over 7,300, with about 1,200 new foreclosures entering the market in March, 2009.

Philadelphia Judicial Foreclosure Laws

All Philadelphia foreclosures must go through a judicial process.  Non-judicial foreclosures are not allowed in Pennsylvania.  In fact, Pennsylvania makes all the foreclosures laws for the state that must be enforced locally. 

In Philadelphia, the foreclosure process begins with a notice of intent to foreclose sent to the borrower after the borrower is at least 60 days on payments.  The borrower has 30 days in which to cure the default.  If the borrower/defendant does not cure the loan default with all past due amounts and fees, then the borrower may obtain a court order to foreclosure upon the property.  Once the court order is obtained, a sheriff’s sale takes place within the guidelines established by the court.  A borrower can redeem the loan anytime up to one hour before the auction and foreclosure sale of the home.  After this period, the borrower does not have the right of redemption.

Here is a summary of Philadelphia foreclosure laws:

Philadelphia Foreclosure Help Options

A Philadelphia homeowner facing foreclosure has options for help.  Unfortunately, many homeowners do not seek out the help they need.  There are government programs available that offer assistance, such as the Philadelphia Foreclosure Prevention Program, and the Association of Community Organizations for Reform Now (ACORN) based in Washington D.C.  These programs offer free assistance to help distressed homeowners facing foreclosure and have been successful in helping many of them.

Professional help is also available through certified foreclosure lawyers.  A qualified foreclosure lawyer specializes in Philadelphia foreclosure and real estate laws and can offer the best advice for stopping a foreclosure or getting through the process as smoothly as possible.

Get a Free Consultation

Philadelphia homeowners are finding that regional foreclosure moratoriums are expiring and lenders are continuing to pursue foreclosures as a means to cure a default.  Final foreclosure auctions have gone up from 1,000 per month in October 2008 to almost 1,900 in March 2009.  It is important for Philadelphia homeowners facing foreclosure to get help.  Most certified foreclosure lawyers will offer a free consultation to go over and review a case.  In all cases, a professional Philadelphia foreclosure lawyer will be able to offer the best advice and strategy for getting through the foreclosure process.

• If you may be facing foreclosure or already in the process, Consult Your Case for Free with a local certified
  
  Foreclosure Attorney in Philadelphia to see your best options you have available to avoid Foreclosure.