Pennsylvania Statutes Title 35 P.S. Health and Safety § 1680.409c. Insufficient funds

The provisions of this article shall not be applicable to any mortgage which becomes delinquent at any time when the agency has officially declared that it does not have money currently available in the Homeowner's Emergency Mortgage Assistance Fund to approve applications for emergency mortgage assistance or to continue making assistance payments on behalf of mortgagors previously approved.  The State Treasurer shall have the duty to advise the agency not less frequently than once each calendar quarter of the amount available for the purposes of this article.  The agency shall be deemed to have insufficient money currently available in the Homeowner's Emergency Mortgage Assistance Fund if at any time the money available in the fund is projected by the agency to be insufficient during the next sixty (60) days to pay out on new applications which have been or are expected (based at least on the previous twelve (12) month loan approval history) to be approved during said period and to continue making disbursements on behalf of mortgagors previously approved.  In the event that the funds available to the agency in the Homeowner's Emergency Mortgage Assistance Fund for purposes of this article become insufficient as officially declared by the executive director of the agency at least sixty (60) days prior to the funds being depleted, the agency shall immediately publish an announcement to that effect in the Pennsylvania Bulletin, which announcement shall include a date certain which shall be at least ninety (90) days after said announcement after which mortgagees shall no longer be subject to the provisions of this article and mortgagees may, at any time after the published date, take legal action to enforce the mortgage without any further restriction or requirement under this article.  In the event that funds are replenished in sufficient amount by an appropriation or otherwise, the agency shall publish a similar notice, which shall be effective immediately, announcing that fact and mortgages shall again be subject to this article.