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Notice of Default on Residential Lease - Pennsylvania 2025

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This document is a Notice of Default on a Residential Lease, informing the tenant(s) of their breach of the Lease Agreement. It outlines the specific default and provides a deadline for the tenant to remedy the situation. If not resolved by the deadline, the landlord may terminate the lease and pursue eviction or other legal actions. The notice emphasizes that it does not limit any other rights or remedies available to the landlord.

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What is the difference between default and foreclosure?

Foreclosure is a legal proceeding that occurs when a borrower misses a certain number of payments. The lender moves forward with taking ownership of a home to recoup the money lent. Foreclosure has six typical phases: payment default, notice of default, notice of trustees sale, trustees sale, REO, and eviction.

What is a notice of default on a house?

A default is a failure to comply with a provision in the lease. Curing or remedying the default means correcting the failure or omission. A common example is a failure to pay the rent on time.

How much notice does a tenant have to give in Pennsylvania?

The amount of notice required depends on the length of the lease. Notice Required to Terminate a Month to Month Tenancy: 15 days (68 P.S. 250.501(b)). Notice Required to Terminate A Fixed Term Tenancy of a Year of More: 30 days (68 P.S. 250.501(b)).

What is the default clause on a residential lease?

The default clause should outline how the process will work. Most clauses dont consider tenants in default until at least five days after the rent was due. Your state and city may also have local tenant laws that dictate when a renter can be considered in default.

Is a notice of default bad?

Technically speaking, a notice of default is not a foreclosure. Instead, it serves as notice that you are behind in your payments and that your property may be sold as a result of foreclosure if you dont act soon.

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What happens when you get a notice of default?

A default notice does not affect your credit file, but the account defaulting does. Your credit file will show that you did not make your agreed payments. This impacts your credit score. Creditors may think the default makes you high risk to not pay them back.

Notice of Default on Residential Lease - Pennsylvania 2025

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