Posted on: 16th Aug, 2010 02:32 pm
Long story short, Sherriff's Sale is this Thursday for our house. If our house sells, how long does Bank of America have to come after us for the difference? We live in Pennsylvania. If it doesn't sell, will they come after us for the whole amount due?
hi movinon!
welcome to forums!
after the foreclosure of the property, the lender can come after you for the balance dues. as far as i know, in pennsylvania, lenders can come after you for 4 years after the sale of the property in order to collect the balance dues.
in order to avoid a foreclosure, you can apply for a deed in lieu of foreclosure with your lender. if the property is sold off through a deed in lieu of foreclosure, you won't be liable for paying the balance amount resulting from sale.
feel free to ask if you've further queries.
sussane
welcome to forums!
after the foreclosure of the property, the lender can come after you for the balance dues. as far as i know, in pennsylvania, lenders can come after you for 4 years after the sale of the property in order to collect the balance dues.
in order to avoid a foreclosure, you can apply for a deed in lieu of foreclosure with your lender. if the property is sold off through a deed in lieu of foreclosure, you won't be liable for paying the balance amount resulting from sale.
feel free to ask if you've further queries.
sussane