Beginning June 24, 2015, the City of Philadelphia will sell your real estate tax lien(s) at www.zeusauction.com from June 24 to June 29, 2015. The City has retained SRI, Inc. to conduct the online Tax Lien Sale. The sale will transfer the lien(s) from the City to a third-party purchaser. Real estate is not technically sold at the time that the City of Philadelphia sells the real estate tax liens to the bidder but you can guarantee that the bidder is going to begin foreclosure proceedings if the taxes are not paid in short order. The following Frequently Asked Questions
How to Save Your Home from Foreclosure Please tune into the Hope Matters Radio Show this weekend with James Hope on Saturday, August 2nd at 10.00 AM. Ways to Listen to Hope Matters Radio Radio: 990 AM WNTP Website: Hope Matters Radio Show iTunes Audio Podcast Mobile App: tunein Defensive Strategies to Save Your Home Make sure you’re doing everything possible to prevent losing your home to the bank. Step 1. Arrange a meeting with your lender as soon as you realize you’re having problems making your monthly mortgage payments. Discuss repayment plans that will allow you to stay
Shenanigans sometimes occur during a sheriff sale. Homeowners are occasionally shocked to find out that their family home was sold at a sheriff sale. The reasons for these Shenanigans varies from incompetent lawyering to outright criminality. Sometimes homeowners never receive any notice of the underlying foreclosure complaint but they always seem to receive notice of the action in ejectment, which is the legal method to obtain possession of the property after a sheriff’s sale. What Happens After a Sheriff Sale First the sheriff must file a schedule of distribution within 30 days after the sale. If no objections are filed
Pennsylvania homeowners have the right to “cure” a mortgage loan (i.e., pay off all arrears and reinstate the loan) up to one hour before the Sheriff Sale. (41 Pennsylvania Statutes Section 404). Pennsylvania Law first created a statutory right to cure a mortgage default in 1974 by establishing Act 6, also known as the Loan Interest and Protection Law. By “cure,” the statute means a restoration of the mortgage “to the same position as if the default had not occurred.” Act 6 established the right to cure defaults up until one hour before a sheriff sale. (41 P.S. Section 404).