Redemption and Deficiency Judgments in Pennsylvania
Whether you can buy back your home after a foreclosure sale in Pennsylvania, and whether the lender can sue for what's still owed.
Short answer: Yes, with limits. If the lender buys the home at the sheriff's sale for less than the judgment and wants to collect the balance, it must petition the court to fix the property's fair market value, and must do so within six months after the sheriff's deed is delivered. 42 Pa.C.S. §§ 8103, 5522(b)(2)
| Deficiency judgments | Yes, with limits. If the lender buys the home at the sheriff's sale for less than the judgment and wants to collect the balance, it must petition the court to fix the property's fair market value, and must do so within six months after the sheriff's deed is delivered. If the lender does not file in time, the borrower or other interested person may petition to have the judgment marked satisfied. Source: 42 Pa.C.S. §§ 8103, 5522(b)(2) |
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More Pennsylvania foreclosure & homeowner law
- How Foreclosure Works in Pennsylvania
- HOA Liens and Foreclosure in Pennsylvania
- All Pennsylvania foreclosure & homeowner law rules
FAQ
Can the lender come after you for the rest of the loan after foreclosure in Pennsylvania?
Yes, with limits. If the lender buys the home at the sheriff's sale for less than the judgment and wants to collect the balance, it must petition the court to fix the property's fair market value, and must do so within six months after the sheriff's deed is delivered. If the lender does not file in time, the borrower or other interested person may petition to have the judgment marked satisfied.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.