Foreclosure proceedings vary, but they are fairly uniform in principle in the various states, where the bond and mortgage is used and filed of record. The following is the usual procedure in Pennsylvania:

Default.2-In case of the mortgagor's default, the usual remedy invoked by the mortgagee is to have a writ of scire facias issued out of the common pleas court of the county where the mortgaged premises are located. This writ is directed to the sheriff of the county. The Act of 1705 provides for the issuance of a writ of scire facias at any time after the expiration of one year from the date of default. This period of one year's grace allowed by the act is usually waived by the mortgagor, however. The ordinary form of this waiver enables the mortgagee to issue a writ of scire facias after 30 days in the case of default in the payment of interest, and immediately in case of any other default.

Interest Tender.-A tender of the interest after 30 days' default will not deprive the mortgagee of the right to proceed. It is not unusual to foreclose on the failure of the mortgagor, or owner of property, to present to the mortgagee a renewal of the fire insurance policy, tax receipt, or water rent receipts, even though the interest or principal of the mortgage is not due.

1 James C. Simpson, Philadelphia, Pa., is a well known realtor, a member of the Norristown (Pa.) Real Estate Board. In 1923, he was a member of the National Committee of the National Association of Real Estate Boards. Mr. Simpson has specialized in Mortgage Loans. 2 Frank J. Parsons, in the chapter on Loaning Money on Real Estate, has dealt at length with the differences as they affect business practice in different states.

Sheriff's Notice.-The latin words scire facias mean "you shall inform." The sheriff is ordered to inform the mortgagor, and also the present owner of the mortgaged premises, in case the mortgagor has parted with his title thereto, of the failure to fulfil the terms of the bond and mortgage. The sheriff proceeds to serve the mortgagor and real owner, if not the mortgagor, and, should they not be the parties who occupy the premises, he serves the one who does occupy the premises. If the premises are not occupied, he tacks the notice on any part of the premises that he can find suitable, and returns the writ nihil habit, which means he could find no one upon whom to serve the writ. Usually the addresses of the owner and mortgagor, if not the same person, are known, and the sheriff is able to serve them. The persons who are thus formally notified of the default are given an opportunity to appear in court and show why the mortgaged premises ought not to be taken in execution and sold to satisfy the mortgagee's claim. If they fail to present a good defense, judgment is taken for the amount due under the bond and mortgage, and is known as "for want of a sufficient affidavit of defense." Judgment may be taken for failure of the mortgagor to appear, and is known as "for want of appearance." In such judgment is usually included a sum covering the commission of the mortgagee's attorney, provided the bond and mortgage authorizes this to be done. If the judgment thus taken is not immediately paid off, the mortgagee may proceed to have a sheriff's sale of the property. This usually is accomplished by causing a writ of levari facias to be issued. This writ commands the sheriff to expose the mortgaged premises to public sale.

Advertisement of Sheriff's Sale.-It is usual for the notice of sheriff's sale to be published in two papers in the city or town where the property is located, once a week for three weeks before the day of sale, and also by posting notice on the premises to be sold.

Judgment on Bond. Some mortgagees, to save time, and wishing to be relieved of the necessity of making search for the real owner and of filing the affidavit as to real owner,

enter judgment on the bond and warrant of attorney, obtain judgment immediately, and put the burden on the mortgagor to try to open the judgment, issuing as execution, first, a fieri facias to condemn and after that, a writ of Venditioni Exponas to sell at sheriff's sale.

The attorney representing the mortgagee presents the following form to the pronthonotary or the clerk of the court, pays the costs, and takes the form to the sheriff for service (see Figs. E, F, G).

Market Street Building & Loan Association

VS.

John Brown, Mortgagor and

Samuel Robinson, Real Owner

C.P. No.

September Term 1922
No.

To the Prothonotary of the Court of Common Pleas of Philadelphia County: Issue Writ of Scire Facias sur mortgage returnable the third Monday of October, 1922, sur mortgage given and executed by John Brown to Market Street Building & Loan Association, dated the eleventh day of December, 1918, recorded on the twelfth day of December, 1918, in the office for the recording of deeds &c., for the County of Philadelphia, in Mortgage Book J. M. H. No. 50 Page 126 &c., Mortgaging the premises therein described to secure payment of a certain bond by John Brown to Market Street Building & Loan Association, bearing even date therewith, in the sum of Forty-four Hundred Dollars conditioned for the payment of the just sum of Twenty-two hundred Dollars at the expiration of one year from the date thereof, with lawful interest thereon at the rate of 6% per annum, payable in monthly installments. Said Bond and Mortgage also provided for payment of Eleven Dollars as a monthly contribution on eight shares of stock of mortgagee, and of said interest and fines on the First Tuesday of every month thereafter and provided that in case of default with respect to said payments for the space of six months after any of said payments shall have become due, the whole principal debt secured should at the option of said Mortgagee thereupon become due and payable and recoverable, together with all interest and fines thereon, and an attorney's fee of 5% for collection, to be included in the costs.

Plaintiff avers that default has been made in the payment of the Eleven Dollar contribution aforesaid, the interest and fines stipulated to be paid monthly for the space of more than six months, whereby the whole principal debt aforesaid, together with the unpaid interest and fines, have become immediately due and payable, together with an attorney's fee of 5% for collection, stipulated and agreed in said mortgage, which is also hereby claimed.

ORDER FOR ENTRY OF JUDGMENT FOR WANT OF AFFIDAVIT OF DEFENCE AND ASSESSMENT OF DAMAGES.

Prothy. C.P.

Enter judgment in the above suit in favor of the plaintiff against John Brown, Mortgagor and against Samuel Robinson, Real Owner, for want of an Affidavit of Defence, and assess the damages as follows:

I enter judgment and assess the damages as above.

AFFIDAVIT AS TO REAL OWNER.

CITY AND COUNTY OF PHILADELPHIA.

William Jones, being duly sworn according to law, deposes and says: 1. That he is the President of the Market Street Building & Loan Association, a corporation, plaintiff above named.

2. That said Market Street Building & Loan Association is the mortgagee in a certain mortgage dated December 11, 1918, to secure the principal debt of $2200, recorded at Philadelphia in Mortgage Book J. M. H. No. Page &c., given and executed by John Brown, Mortgagor upon which Market Street Building & Loan Association is about to issue a writ of scire facias.

3. That to the best of the deponent's knowledge, information and belief, Samuel Robinson is the real owner of the land and premises described in the said mortgage and that his place of residence is 1460 North 14th Street, Philadelphia.

4. That deponent has been duly authorized and empowered to take this affidavit in the behalf of Market Street Building & Loan Association, aforesaid.

Sworn to and subscribed before

me this 11th day of October, 1922.

FIG. G

Sheriff's Sale.-At the sheriff's sale the mortgagee can and should safeguard his interests by bidding up the property to an amount sufficient to pay off his judgment with interest, costs, taxes, etc., provided the value of the mortgaged premises warrants such a bid. The sale divests the premises from the lien of the mortgage judgment under which it is made, as well as from junior liens, such as those held by subsequent mortgagees and ordinary judgment creditors. Therefore, the mortgagee should see that the fund produced by the sale will be large enough to pay him in full after making due allowance for all legal costs, taxes, water rents, and such other claims as come in for payment ahead of his judgment. Ordinarily, the mortgagee should procure, in advance of the sale, a certificate showing what taxes and other claims against the property are ahead of his judgment, in order that he may include them in calculating how high he must bid. Of course, if he can bid in the property for a small sum, he will be glad to do so, but usually he should be prepared to raise his bid to a sum sufficient to let him out whole. If someone else bids