Legal Question in Credit and Debt Law in Pennsylvania

Re: Pennsylvania Creditor Laws

Pennsylvania has a law known as the deficiency judgment act. It provides that a mortgage company who receives a property through a sheriff's sale may attempt to recover any deficiency. However, it is rarely used as mortgage companies are usually satisfied with recovery of the property. Moreover, I do not know if Florida has any similar law.

You have 2 choices: 1) wait and see if they actually make a claim for a deficiency and deal with it then; 2) consider a bankruptcy to eliminate the possibility and any other debt you have.

I trust this answers your question, but feel free to call or E-mail on a free initial basis.