A Pennsylvania Writ of Execution (Mortgage Foreclosure) is a legal document issued by a court of competent jurisdiction in the Commonwealth of Pennsylvania. It grants a creditor or lender the authority to take possession of a debtor’s property for the purpose of satisfying a debt. This document is typically used in the event of default on a mortgage loan, and is a formal request for a sheriff or constable to execute a foreclosure sale of the mortgaged property. There are two types of Pennsylvania Writ of Execution (Mortgage Foreclosure): judicial foreclosure, and non-judicial (power of sale) foreclosure. Judicial foreclosure is a court-supervised process that begins when a creditor files a complaint and the court issues an order of sale. Non-judicial foreclosure, on the other hand, involves a creditor exercising its right to sell the mortgaged property without a court order.
Pennsylvania Writ of Exectution (Mortgage Foreclosure)
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FAQ
The statute of limitations for such documents is 20 years unless some other statute sets a different time. Mortgage loans. The state of Pennsylvania has no legal requirement for a mortgage lender to foreclose within a stipulated period after a default.
Pennsylvania judgments are valid for 5 years. Judgments can be revived every 5 years and should be revived if a creditor is attempting to actively collect on the debt. Judgments also act as a lien against real property for up to 20 years or longer if properly revived.
Stopping the Writ of Execution The most effective way to stop a writ of execution is to ask the Judgment Creditor to stop it. The sheriff will often back off if the parties are working to resolve the judgment.
There is no right of redemption in Pennsylvania for mortgage foreclosure properties. A property located in Philadelphia must be redeemed within nine months from the date the sheriff transfers the deed. Outside of Philadelphia, the right to redeem is lost once the sheriff transfers the deed.
Foreclosure service Pennsylvania foreclosure proceedings require the foreclosure notice to be served along with a 20-day summons. If no response is received, the borrower must receive a second, 10-day summons. As such, borrowers may file a response to the foreclosure complaint within 30 days of receiving the complaint.
Once granted, a Writ of Execution is good for 90 days.
The state of Pennsylvania has no legal requirement for a mortgage lender to foreclose within a stipulated period after a default. However, it's argued that mortgages signed under seal should have a 20-year statute of limitations.
Statute of Limitations in Pennsylvania Pennsylvania statute of limitations for a debt collector to take someone to court, is four years after the first missed payment. This doesn't mean, however, the debt collector has to stop seeking payment. It just means they can't sue for payment.