A Pennsylvania Writ of Execution-Mortgage Foreclosure is a legal document that allows a lender to seize and sell a mortgaged property when the borrower has failed to make payments. This writ of execution is issued by a court in Pennsylvania and is generally accepted by sheriffs in other states. There are two types of Pennsylvania Writ of Execution-Mortgage Foreclosure: judicial foreclosure and non-judicial foreclosure. In judicial foreclosure, the lender files a lawsuit in court and obtains a court order granting the lender the right to foreclose on the property. The lender then applies for a Writ of Execution-Mortgage Foreclosure, which is issued by the court. The Writ of Execution is then delivered to the sheriff, who is responsible for carrying out the foreclosure process. In non-judicial foreclosure, the lender does not need to go to court and obtain a court order. The lender can simply issue a Writ of Execution-Mortgage Foreclosure directly to the sheriff, who is responsible for carrying out the foreclosure process. This type of foreclosure is generally faster and less expensive than judicial foreclosure. In either type of foreclosure, once the sheriff has seized the property, and it is sold at a public auction, any remaining balance on the loan must be paid by the borrower. If the borrower fails to pay the remaining balance, the lender can seek a deficiency judgment against the borrower.
A Pennsylvania Writ of Execution-Mortgage Foreclosure is a legal document that allows a lender to seize and sell a mortgaged property when the borrower has failed to make payments. This writ of execution is issued by a court in Pennsylvania and is generally accepted by sheriffs in other states. There are two types of Pennsylvania Writ of Execution-Mortgage Foreclosure: judicial foreclosure and non-judicial foreclosure. In judicial foreclosure, the lender files a lawsuit in court and obtains a court order granting the lender the right to foreclose on the property. The lender then applies for a Writ of Execution-Mortgage Foreclosure, which is issued by the court. The Writ of Execution is then delivered to the sheriff, who is responsible for carrying out the foreclosure process. In non-judicial foreclosure, the lender does not need to go to court and obtain a court order. The lender can simply issue a Writ of Execution-Mortgage Foreclosure directly to the sheriff, who is responsible for carrying out the foreclosure process. This type of foreclosure is generally faster and less expensive than judicial foreclosure. In either type of foreclosure, once the sheriff has seized the property, and it is sold at a public auction, any remaining balance on the loan must be paid by the borrower. If the borrower fails to pay the remaining balance, the lender can seek a deficiency judgment against the borrower.
