FORECLOSURE TIMELINE |
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Example Timeline
2/2/2009 January payment becomes past due.
3/2/2009 February payment becomes past due account is now due for 2 payments.
4/2/2009 March payment becomes past due account is now due for 3 payments.
4/5/2009 Lender sends the Notice of Intent to Foreclose (Act 6 Notice) to the mortgagor. If applicable, the lender will also send an Act 91 Notice that makes the mortgagor aware of the Homeowners’ Emergency Mortgage Assistance Program.
5/8/2009 Act 6 and Act 91 Notices have expired - Lender refers account to Foreclosure attorney.
6/8/2009 Foreclosure attorney begins the legal process by filing a "Complaint" at the
7/23/2009 Mortgagor does not respond to the complaint a "Default Judgement" is entered.
7/25/2009 Sheriff’s office schedules a "Sheriff Sale" date.
8/25/2009 Notice of "Sheriff Sale" is sent to each mortgagor on the loan.
9/25/2009 "Sheriff Sale" is held.
9/27/2009 Sheriff prepares and records a deed conveying title to the purchaser. If a third party does not purchase the property, the deed will convey title back to the lender.
9/27/2009 Eviction process begins if the mortgagor still resides in the property.
