HomeMy WebLinkAbout96-01024
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SECURITY PACIFIC FINANCIAL
SERVICES OF PENNSYLVANIA, INC.
PlaintiU
COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
NO. '(" ,', 'I (',,~.j t/F9'l\ r;,,~.,
vs.
CIVIL ACTION - LAW
KENNETH W SMITH
SHARON L SM I TH,
Defendant/s
MORTGAGE FORECLOSURE
COMPLAINT
I. Plaintiff is Security Pacific Financial Services or
P<!nnsylvania, Inc., a Pennsylvania corporation, with an address at
~200 Derry Street, Harrisburg, Dauphin County, PA 17111.
2. Kenneth W. Smi th, defendant and Mortgagor, is an adul t
individual with an address at 304 Sandbank Road, Mt Holly Springs,
Cumberland County, PA 17065.
3. Sharon L. Smi th, defendant and Mortgagor, is an adul t
individual with an address at 304 Sandbank Road, Mt Holly Springs,
Cumberland County, PA 17065.
4. On or about September 27, 1991, Mortgagors executed and
delivered a Note in the sum of SI6,467,I7, payable to Security
Pacific Financial Services of Pennsylvania, Inc., a copy or which
is attached hereto, Exhibit "A", and made a part hereof.
5. Contemporaneously with and at the time of the execution of
the aforesaid Note, in order to secure payment of the same,
Defendants made, executed and delivered to Security Pacific
Financial Services of Pennsylvania, Inc., a certain real estate
Mortgage which is ~ecorded in the office of the Recorder or Deeds
of Cumberland County, Pennsylvania in Record Book 1030, Page 419,
conveying the subject premises. Said Mortgage is incorporated
herein by reference,
6. The land 3ubject to the Mortgage is situated in the
Township of South Middleton, Cumberland County, Pennsylvania. The
legal description is attached hereto, marked Exhibit "B" and made
a part hereof.
". Defendants are the real owners of the land subject to the
~lu r t c;ag'.?
~. The mortgage is in default due to the tact that the
~tortgagors hav" fai led to pay the full monthly installments of
S2St.OO from August 2, 1'l'lS, and each monthly payment thereafter
and tile fot lowing amount~ are due on the Mortgage:
(a) Unpaid principal balance
wi th Interes t to 03/01/96
(~) 15' Attorney Commission
TOTAL
115.692.47
1 2,351.87
118,046.34
together with interest at the per diem rate of $6.58 after March
01.1996 and all other charges and costs to date ot Sheriff's
Sale.
The attorney's fees set forth above are in conformity with
the Mortgage documents and Pennsylvania law, and will be collected
in the event of a third party purchaser at Sheriff's Sale. It the
Mortgage is reinstated prior to the sale. reasonable attorney's
fees wi 11 be charged that are actually incurred by Plaintiff.
9, ~o judgment has been entered upon said Mortgage in any
jurisdiction.
10. Defendants are not members of the Armed Forces of the
United States of America, nor engaged in any way which would bring
them within the Soldiers and Sailors Relief Act ot 1940, as
amended.
II. Notice of Intention to Foreclose and to accelerate the
loan balance has been given to the Mortgagor in accordance with
Section 403 of the Pennsylvania Act No.6 of 1974, but the
Mortgagors have failed to reinstate the mortgage in accordance
with the provisions thereof, A copy of the Notice is attached
hereto. marked Exhibit "c" and made a part hereof.
12. Pl~intiff has complied with the procedures required by
Pennsyl~ania Act 91 of 1983 (Homeowners' Emergency Mortgage
Assistance Payments Program) and Defendants have either failed to
meet the time limitations as set forth therein or have been
determined by the Housing Finance Agency not to qual ify for
assistance.
WHEREFORE. Plaintiff demands judgment against Defendants in
the amount of 115,692,47, together with interest at the per diem
rate of $6.58 after March I, 1996, other charges and costs
incidental thereto to the date of Sheritf's Sale and for
foreclosure and sale of the property within described,
, ,.- -:0)
'<:' \- \" \y..:,
Arthur M. Feld
Attorney I.D. No. 07172
1309 Bridge Street
New Cumberland, PA 17070
(717) 770-0292
Attorney for Plaintiff
-
CO "lINED NOTE AND SECURITY AGRE"'~ ""T
lfr;oER Icallod "You);
c;J::rnp, T"'" "A" rF' rr PI 'lAw" f^ r,
4Rl1 JONF'~TnWN ~r>
IlARR rc;nrnu: r>~
"C'P"T~PC; 0P rF'""s.tr."A~1 filA,
c;rJr"F: ?Or,
17111'1
SECONDARY MORTGAGE LOA
1I'lIIi Agreement IS subject 10 II
provisions of Ihe Secondary Morlga'
Loan Act.
ACCOUNT NUMaEA: DATE FINANCE CHARGES BEGIU RESCISSION END DArE.
('4~5qIO?1; 111_0'_01 111-1)1-01
Kr.:~IN p.'rf! :~ C;m':'H
liHARON 9r1 r1'H
104 S^,II)~M:F< !In
'1'r HO 1.1, ',' ,C; PR rio' r,;,
"A 170(,')11"
. PRIMARY BORROWER lcalled "I")
. CO.BORROWER iiI any I
. PRIMARY BORROWER'S AOORESS
09-27-91
U A , rHI>f/l'i
Q."UE P.Io,
11-0'-. UFo\I~1l
'.flNHt
I AL U
. I)-I) "!-o I
$
N,
213' .00
$
2Rl . no
1<n
AN;
MONTHS
IllS
la'$
Ib)$
(2)$
S
$
1 r, 1 ~ 'i. '7
"'.(111
17'~'."'
17~'A Q1
., 4 7'0: ,'\1)
1 f\dfi 7. 17
. AMOUNT FINANCEO
. ProPald Finance Chargo
. lolerest
. fiNANCE CHARGE la . bl
. TOTAL OF PAYMENTS II . 2'
. Frinclprn I' t a)
$ nor JI:: . erldil Ufe In!lurance
$ N()~'J:: . OIaablllly Inaurance
$ ~1t'lrf F' . Personal Properly Insurance
$ ~'''r'~ -lnvokJntary Unemploymenllnsuranco
$ '1\.00 . Recording/ReleulllQ Foes
1 7 . n Inn "" ANNUAL PERCENTAGE RATE
1 !! . ~ q q, % po, yo'" . CONTRACT RATE
Security.
Rl"rTtl 1lP.
NO CREDIT INSURANCE IS REOUIRED FOR TIllS LOAN. I moy oblllin dollred lnouranc. .rom anyone I cI1oo... ,. I obl..n any lnoulllnc. .hrouQh you
indlcaled on .he I.PIlII.,y I.gnod and daled agroem.nt,'1O cOSl,lsnown lIIlovo);a InclUlled In ,he Amount FInanced. THIS IS THE ONLY INSURANCE YC
OFFER AND YOU EXPECT TO PROFIT FROM IT, I CONSENT TO THIS.
I may cane.. r.tedit inaurancl In t 5 cav. and glt a run ,.rund if all parties i!UQnino this not. agree in wntlnQ.
PAY-OUTS. If amounts paid to others. including escrow fees, increase because closing is delayed, (a) I will pay increase at clos
or (b) the amount to me will be reduced.
PROMISE TO PAY. I will pay you Principal with Interest at the Contract Rate shown above. I will make paYMents as shown abc
Each payment will be applied first to fnterest and then to Principal. Interest begins on Date of Loan or Date Finance Char<
Begin (above), if difterenl.
PREPAYMENT, I will pay a penalty of six months' Interest on any amount I prepay. There will be no penalty ( 1) on loans of $50,C
or less secured by real estate containing four or fewer residential units, (2) if I refinance this loan with you, (3) if I prepay
Insurance proceeds, (4) if you sue me or foreclose, or (5) after five years from Date 01 Loan. The Prepaid Finance Chargc
fully earned and is not refundable.
SECURITY. This loan is secured by real eslate (and proceeds of any insurance on ill covered by a Mortgage/Deed of Tr
which I signed on the dale of this loan and which is located at the address shown abovelQlltUCllC:
RECUIRED INSURANCE. ~ Tille Insurance and ~ Fire and Extended Coverage Insurance on real estate security are requir
I may obtain required insurance through anyone I choose. If I do not maintain required insurance, you may obtain it and add :
cost to my unpaid balance.
DEFAULT. II I (1) don't pay on lime, (2) fali to comply with Ihis Agreement or my Mortgage, (3) sell or transfer security with,
your consent. (4) tile or have filed against me any bankruptcy proceeding, or (5) make any malerially falso slalement to obt,
this loan, you may (a) remedy my default and charge Interest at the Contract Rate on amounls you pay, and (b) declare a
owe immediateiy due,
I will pay your court costs, reasonable allorney fees, and all reasonable expenses to realize on any security inlerest. I Will P
you $20.00 if any check given to you is not honored because of insufficient funds or because no such account exists.
Witness '
.al22101Q08P,,
EXHIBLT "A"
IMPORTANT NOTICE OF HOMEOWNERS'
EMERGENCY MORTGAGE ASSISTANCE ACT OF 1983
PLEASE READ THIS NOTICE. YOU MAY BE ELIGIBLE FOR
FINANCIAL ASSISTANCE TOWARD YOUR MORTGAGE PAYMENTS
Date: January 15. 1996
Account No: 15815522
Re File No: 0095-96
TO: Kenneth W. and Sharon L. Smith
FROM: Arthur M. Feld, Attorney for Security Pacific Financial
Services of Pennsylvania, Inc.
Your mortgage is in serious default because you have
failed to pay promptly installments of principal and
interest, as required, for a period of at least sixty (60)
days, The total amount of the del inquency is $1,405.00. That
sum includes the following: payment for August, 1995, and
each subsequent month thereafter.
Your mortgage is also in default for the following
reason: N/A
You may be eligible for financial assistance that will
prevent foreclosure on your mortgage if you comply with the
provisions of the Homeowners' Emergency Mortgage Assistance
Act of 1983 (the "Act"). You may be eligible for emergency
temporary assistance if your default has been caused by
circumstances beyond your control, and if you meet the
eligibility requirements of the Act as determined by the
Pennsylvania Housing Finance Agency. Please read all of
this Notice. It contains an explanation of your rights.
Under the Act, you are entitled to a temporary stay of
foreclosure on your mortgage for thirty (30) days from the
date of this Not ice. During that time you have the right to
arrange a "face-to-face" meeting with a representative of
this lender, or with a designated consumer credit counseling
agency. The purpose of that meeting is to attempt to work
out a repayment plan, or to otherwise settle your
delinquency. That meeting must occur in the next thirty
(30) days.
I f you attend a face-to-face meeting wi th this lender,
or with a consumer credit counseling agency identified in
this notice, no further proceeding in mortgage foreclosure
EXH 11\[T "r."
may take place for thirty (30) days 4fler lhe dale of that
meeting.
The na~e. address and telephone number of our
representative is:
Dave Fleming. Branch Wanacer
4200 Derry Street
Harrisburc, PA 17111
Telephone Number: (717) 558-9010
The name(s) and address(es) of (a) designated consumer
credit counseling agency(ies) is (are):
Consumer Credit Counseling Service of Western PA, Inc.
2000 Linclestown Road
Harrisbur" PA 17102
(717) 541-1757
It is only necessary to schedule one face-to-face
meet in,. You should advise this lender immediately of your
intentions.
If you have tried and are unable lo resolve this problem
at or after your face-to-face meeting, you have the ri,ht to
apply for financial assistance from the Homeowners'
Emergency Mortgage Assistance Fund. In order to do this,
you must fill out, sign and fi Ie a completed Homeowners'
Emergency Assistance Application with the Pennsylvania
Housing Finance Agency. The consumer credit counseling
agency will assist you in filling out your application. It
must be fi led or postmarked, within thirty (30) days of your
face-to-face meeting.
You must either mail your applicalion to the
Pennsylvania Housinc Finance Agency, or your must file it at
lhe office of one of lhe designated consumer credit
counseling acencies listed above.
The Pennsylvania Housing Finance
2000 Linglestown Road, Harrisburg, PA
(717) 780-3800.
Agency is localed at:
17102. Telephone No.
An application for assistance may be obtained from this
lender, from a consumer credit counseling agency, or directly
from the Pennsylvania Housing Finance Agency.
It is extremely important that you file your application
promptly. If you do not do so, or if you do not follow the
other time periods sel forth in this leller, foreclosure may
proceed against your home immediately.
NOTICE OF INTENTION TO FORECLOSE MORTGAGE
January IS, 1996
TO: Kenneth W. and Sharon L. Smith,
RE ACCOUNT NUYBER:
15815522
This is to advise you that I repres8nt the hereinafter
mentioned mort,a,ee and have been directed by them to send
you this Notice.
The MORTGAGE held by Security Pacific Financial Services
of Pennsylvania, Inc., (hereinafter we, us, or ours), on your
property located at 304 Sandbank Road, Yt Holly Sprin,s,
Cumber! and Coun ty, PA 17065, I SIN SER 10US DEFAULT because
you have not made the monthly payment of S281.00 for
Au,ust 2, 1995 and each monthly payment thereafter. Late
char,es and other char,es have also accrued to this date in
the amount of $-0-. The total amount now required to cure
this default, or in other words, ,et cau,ht up in your
payments, as of the date of this letter, is S1.405.00.
You may cure this default within THIRTY (30) DAYS of the
date of this letter, by payin, to us the above amount of
SI,405.00, PLUS any additional monthly payments and late
char,es which may fall due durin, this pe~iod. Such payment
must be made either by cash, cashier's check, certified
check, or money order, and made to Arthur Y. Feld, Esq., at
1309 Brid,e Street, Suito 5, New Cumberland, PA 17070-1172.
If you do not cure the default within THIRTY (30) DAYS,
we intend to exercise our ri,ht to accelerate the mort,a,e
payments. This means that whatever is owin, on the ori,inal
amount borrowed wi II be considered due immediately and you
may lose the chance to payoff the ori,inal mort,a,e in
monthly installments. If full payment of the amount of
default is not made within THIRTY (30) DAYS, we also intend
to start a lawsuit to foreclose your mort,aged prope~ty. If
the mortgage is foreclosed your mortgaged property will be
sold by the Sheriff to payoff the mortgage debt. If we
refer your case to our attorneys, but you cure the default
before they begin legal proceedings against you, you wi II
still have to pay the reasonable attorney's fees actually
incurred, up to $50.00. However, it legal proceedings are
started against you, you will have to pay the reasonable
attorney's fees even if they are over S50.00. Any attorney's
fees will be added to whatever you owe us, which may also
include our reasonable costs. If you cure the default
within the thirty-day period, you will not be required to
pay attorney's fees.
We may also sue you personally for the unpaid principal
and al lather sums due under the mortsase.
If you have not cured the default within the thirty-day
period and foreclosure proceedin,s have be,un, you still have
the ri,ht to cure the default and prevent the sale at any
time up to one hour before the Sheriff's foreclo~ure sale,
You may do so by pay in, the total amount of the unpaid
monthly payments plus any late or other char,es then due, as
well as the reasonable attorney's fees and costs connected
with the foreclosure sale and perform any other requirements
under the mort,a,e. It is estimated that the earliest date
that sucb a sheriff's sale could be held would be
approximatel)' June 12, 1996. A notice of the date of the
Sheriff's Sale will be sent to you before the sale, Of
course, the amount needed to cure the defaul t wi II increase
the lon,er you wait. You may find out at any time exactly
what the required payment wi II be by callin, us at the
rollowin, number: (717) 770-0292. This payment must be in
cash. cashier's check, certified check, or money order and
made payable to us at the address stated above.
You realize that a Sheriff's Sale will end your
ownership of the mort,a,ed property and your ri,ht to remain
in it. If you continue to live in the property arter the
Sheriff's Sale. a lawsuit could be started to evict you.
You have additional ri,hts to help protect your interest
in the property. YOU HAVE THE RIGHT TO SEll THE PROPERTY TO
OBTAIN MONEY TO PAY OFF THE MORTGAGE DEBT. OR TO BORROW
MONEY FROM ANOTHER lENDING INSTITUTION TO PAY OFF THIS DEBT.
YOU MAY HAVE THE RIGHT TO SEll OR TRANSFER THE PROPERTY
SUBJECT TO THE MORTGAGE TO A BUYER OR TRANSFEREE WHO WIll
ASSUME THE MORTGAGE DEBT. PROVIDED THAT All THE OUTSTANDING
PAYMENTS, CHARGES. AND ATTORNEY'S FEES AND COSTS ARE PAID
PRIOR TO OR AT THE SALE. AND THAT THE OTHER REQUIREMENTS
UNDER THE MORTGAGE ARE SATISFIED. CONTACT US TO DETERMINE
UNDER WHAT CIRCUMSTANCES THIS RIGHT MIGHT EXIST. YOU HAVE
THE RIGHT TO HAVE THIS DEFAULT CURED BY ANY THIRD PARTY
ACTING ON YOUR BEHALF.
I f you cure the defaul t, the mort,a,e wi II be restored
to the same position as if no default had occurred.
However, you olre not entitled to this riSht to cure your
default more than three times in any calendar year.
Very truly yours,
Arthur M. Feld
cc: Security Pacific Financial Services