Facing foreclosure can be an overwhelming and stressful experience, but it’s important to know that you have options to potentially keep your home or minimize the financial impact. Pennsylvania homeowners have access to various legal tools and resources to address foreclosure and protect their assets.



At Tadross Law, we provide legal assistance to the Pennsylvania public, offering personalized strategies to help you navigate foreclosure and secure your financial future.

Options for Addressing Foreclosure in Pennsylvania

If you are facing foreclosure, here are several potential options to consider:

1. Loan Modification

A loan modification adjusts the terms of your mortgage to make payments more affordable. This may involve reducing the interest rate, extending the loan term, or rolling missed payments into the balance.

2. Reinstatement

If you can pay the total amount of overdue payments and fees in a lump sum, reinstatement allows you to bring your mortgage current and stop the foreclosure process.

3. Forbearance Agreement

Forbearance temporarily reduces or suspends mortgage payments, giving you time to recover financially. This option is often used in cases of temporary financial hardship.

4. Refinancing

Refinancing your mortgage allows you to replace your existing loan with a new one, ideally with better terms, to lower your monthly payments and avoid foreclosure.

5. Chapter 13 Bankruptcy

Filing for Chapter 13 bankruptcy can stop foreclosure through an automatic stay and provide a repayment plan to catch up on missed mortgage payments over three to five years.

6. Pennsylvania Housing Finance Agency (PHFA) Programs

The PHFA offers foreclosure prevention programs, such as the Homeowners’ Emergency Mortgage Assistance Program (HEMAP), which provides loans to help eligible homeowners avoid foreclosure.

7. Short Sale

If keeping your home is not feasible, a short sale allows you to sell the property for less than the amount owed on the mortgage with the lender’s approval.

8. Deed in Lieu of Foreclosure

In this option, you voluntarily transfer ownership of your home to the lender to satisfy the mortgage debt and avoid the formal foreclosure process.

How Tadross Law Can Help

At Tadross Law, we understand the complexities of foreclosure and are committed to helping Pennsylvania homeowners explore all available options. Our services include:

• Evaluating your financial situation and determining the best strategy.
• Negotiating with lenders for loan modifications or forbearance agreements.
• Representing you in bankruptcy proceedings to stop foreclosure.
• Guiding you through short sales or deed-in-lieu agreements if necessary.

Take Action Today

Foreclosure doesn’t have to mean losing your home. By acting quickly and seeking professional guidance, you can take control of your financial future. Contact Tadross Law for a consultation, and let us help you find the right solution for your unique circumstances. Together, we’ll work to protect your home and your peace of mind.