Falling behind on mortgage payments is more common than most people think.
It usually doesn’t happen overnight. It starts with one missed payment. Then another. Then a letter from the lender. Then the stress sets in.
If you live in Westmoreland, Fayette, or Butler County and you’re behind on your mortgage, here are a few important points to understand.
First, foreclosure is a process. It does not happen immediately. In Pennsylvania, a lender must file a foreclosure action in court before a sheriff’s sale can occur.
Second, ignoring the problem makes it worse. Once a foreclosure complaint is filed, deadlines begin running. Failing to respond can result in a default judgment.
Third, there are options. Depending on your income and overall financial situation, Chapter 13 bankruptcy may allow you to stop foreclosure and spread mortgage arrears out over three to five years while keeping your home.
Every situation is different. The key is getting accurate information early rather than waiting until the sale date is scheduled.
Legal tools exist to stabilize financial situations. The earlier you understand your options, the more flexibility you typically have.