Bayview Loan Servicing, Llc. v. Law Firm Of Richard M. Squire & Associates, Llc.

2010 WL 5122003 (2010)

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Nature of the Case

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Facts

Bayview (P) acquired a note and associated mortgage. The loan was for $262,500.00 against real property Pugliese purchased. Pugliese defaulted on the Mortgage. P retained D to commence a foreclosure action. P got an in rem judgment and judgment against Pugliese in the amount of $287,992.56 in the Foreclosure Action on January 24, 2008. P purchased the Property at a sheriff's sale then later sold it to a third party. On December 4, 2008, P instructed D to seek a deficiency for $374,998.01. P filed a lawsuit against Pugliese, but D had failed to file a petition to fix fair value within six months of the sheriff's sale, as required under Pennsylvania law in order to pursue a deficiency. The six-month period expired on March 5, 2009. Pugliese filed a petition to mark the judgment satisfied, released and discharged, based on P's failure to file the required petition to fix fair value. The judge issued an order marking the judgment satisfied on June 5, 2009. Despite the initial judgment having been marked satisfied, a default judgment was entered against Pugliese in the Deficiency Action for $295,726.05 on July 13, 2009. Sheriff's levied on Pugliese. Pugliese then filed a petition to strike the default judgment, and it was granted. P then filed a malpractice suit against D. Ds moved to dismiss for failure to state a claim.