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Old 05-03-2004, 02:34 AM
annalise27
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property foreclosure

What is the name of your state? Pennsylvania I hold the mortgage to a home property here in Philadelphia. The borrower is extremely difficult and is now behind on his mortgage payments two months. How many payments does one have to be behind in before I can foreclose on this property. This was an inheritance for me and he did this to the former lender.. Any information out there concerning this PROBLEM? Thank you
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Old 05-03-2004, 08:34 AM
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"How many payments does one have to be behind in before I can foreclose on this property."
*** The borrowers payment has to be only one day late to entitle you to start foreclosure action.
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Old 05-03-2004, 10:05 AM
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Quote:
Originally Posted by annalise27
What is the name of your state? Pennsylvania I hold the mortgage to a home property here in Philadelphia. The borrower is extremely difficult and is now behind on his mortgage payments two months. How many payments does one have to be behind in before I can foreclose on this property. This was an inheritance for me and he did this to the former lender.. Any information out there concerning this PROBLEM? Thank you
**A: read your mortgage documents for default provisions. Hire an attorney to send a demand letter.
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