Does foreclosure occur when papers are filed or when title of the foreclosed property is transferred to the mortgage company?

UPDATED: Jun 22, 2012

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Does foreclosure occur when papers are filed or when title of the foreclosed property is transferred to the mortgage company?

Approximately, 2 years ago, my mortgage company filed foreclosure papers against me with the court. I paid the full amount to bring the payments current a month later and have been current ever since. I recently requested a letter from them confirming that I was was not foreclosed on, I am current on my payments, and still living in the house. I need the letter to get refinanced at a significantly lower rate. They refused saying they did foreclose on me. Are they accurate or does foreclosure occur when title to the property is transferred back to them and/or the property is sold?

Asked on June 22, 2012 under Real Estate Law, Pennsylvania


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

An actual foreclosure happens when there is a trustee's sale for one's property whose mortgage or trust deed is not being kept current with respect to the loan and legal title is then transferred out of the borrower's name to a third party and the trustee's deed is recorded in the recorder's office in the county where the real property is located.

From what you have written there was no foreclosure on your property.

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