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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Over encumbered at the sale. Posted by Ward-CA- on September 03, 2001 at 3:43 PM In Reply to: mortgages much greater than resale posted by jdoyle on September 03, 2001 at 12:59 AM : in PA... can i walk away from a house where the mortgages exceed the resale by a large degree? =•=•=•=•=•=•=•=•=•=•=•=•= Look at the foreclosure basics for PA (see link below) and note that a lender is allowed to take a deficiency there if they get less than what they’re owed from the final disposition of any property they took title to at their foreclosure auction. So you can “walk away” from your over encumbered property, but just be aware you could be the target of a possible deficiency lawsuit from your lender. Probably depends on your lender’s willingness to go for the deficiency. 50 State Foreclosure Basics Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : in PA... can i walk away from a house where the mortgages exceed the resale by a large degree? : =•=•=•=•=•=•=•=•=•=•=•=•= : Look at the foreclosure basics for PA (see link below) and note that a lender is allowed to take a deficiency there if they get less than what they’re owed from the final disposition of any property they took title to at their foreclosure auction. : So you can “walk away” from your over encumbered property, but just be aware you could be the target of a possible deficiency lawsuit from your lender. Probably depends on your lender’s willingness to go for the deficiency. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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