A sheriff sale takes place when the owner of a house in question does not meet his or her obligation on mortgage payments, utilities, or unpaid taxes. In this case, the lender proceeds to request foreclosure through a court. Once granted, the sheriff’s office takes over and facilitates the sale. This sale is made through an auction to recoup what is owed. The owner of the house up for auction can stop this move from taking place. To achieve this, the owner should apply these four tips:

Tips to Avoiding a Sheriff Sale in Pennsylvania

(Top 4) Best Tips to Avoiding a Sheriff Sale in Pennsylvania

1. Clear the Mortgage Balance

Pennsylvania mortgage laws can get confusing. One of the 4 tips for avoiding a sheriff sale in Pennsylvania is by paying all the arrears and fines accrued through the non-payment period. Other costs you should expect to pay to include the foreclosure, inspection and attorney fees in a judicial foreclosure.

Clear the Mortgage Balance

The payment should be documented. Those documents ought to be presented to a lender or sheriff’s office before the deadline set. The party owed may prefer this method since it reduces the workload. Also, other options available may require more actions and might fail to yield the desired results. You can approach the sheriff’s office and request an extension to clear the arrears. If they agree to this, the sale will be postponed.

2. Seek Court Intervention

Seek Court Intervention

You can seek the court’s intervention in different ways. You can file for bankruptcy under Chapter 13, which allows you to keep your home for longer. Its terms give you an opportunity to have your mortgage re-evaluated and premiums adjusted to fit your current financial situation. If the court declares you bankrupt, this bars the lenders from disposing of your home. You should observe the terms set since breaching them puts your house up for repossession yet again. The court can also allow an extension on the deadline set for a sale if they find convincing evidence that you can settle your debt given time. You can also seek the court when the terms set have been breached by the party owed and lists your house for a sheriff’s sale. In this case, the court can issue a court order stopping the sale.

3. Amend the Payment Terms

Amend the Payment Terms

You can approach the other party for a chance to amend the terms set. This might buy you extra time and favourable payment plans. The party can consider the situation and call off the sheriff’s sale. The terms can be a request to reduce the amount paid as monthly premiums or an extension for some time to enable you to get the financial situation sorted. This is workable for people who have undergone a life-changing experience such as loss of contributors, accidents, loss of income and delayed payments from their sources. Do this early to give enough time for consideration and to create room for other options if this fails.

4. Short Sale

Short Sale

If you are left without many options, you can put up the house for sale and use the amount realized to settle the debt. This sale can be made by listing your home through realtors or individually. Once sold, and the debt is to be cleared, the lender can delist the house. They also do this once a sale has been confirmed since a prospective buyer does not guarantee an immediate sale. The sale is however not the best option for people behind on the last few months of their mortgage plan.

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