Summary of Virginia's Foreclosure Laws

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If you are facing foreclosure in Virginia, it’s important to understand some of the basics, including:

  • the most common type of foreclosure procedure (judicial v. nonjudicial) used in Virginia
  • how much time you have to respond
  • your rights and protections in the process, and
  • what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of Virginia foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic

State Rule

Most common type of foreclosure process

Nonjudicial under power of sale in deed of trust

Time to respond

Foreclosing party must serve notice of sale on homeowner personally or by mail 14 days before the sale. Notice must be published in a local newspaper once a week for four consecutive weeks or 5 days, unless deed of trust provides for a different interval. Sale can be held eight days after the first publication, and no more than 30 days after last publication.

Reinstatement of loan before sale

Not available (unless permitted by the loan documents)

Redemption after sale

Not available

Special protections for foreclosures involving high-cost mortgages

None

Special state protections for service members

Servicemembers Civil Relief Act (SCRA) protections extended to National Guard members called to state active duty by the governor for 30 or more consecutive days. Va. Code Ann. § 44-102.1. Any default judgment in a civil action that violates the SCRA may be set aside. Va. Code Ann. § 8.01-15.2

Deficiency judgments

May be obtained in a separate lawsuit after the sale

Cash exempted in bankruptcy

Up to $5,000; up to $10,000 if married filing jointly; additional $10,000 if disabled veteran under state bankruptcy exemptions.

Notice to leave after house is sold

New owner does not have to give former owner notice before filing eviction lawsuit. Homeowner may receive a 5-day notice to quit.

Foreclosure statutes

Va. Code Ann. §§ 55-59 to 55-66.6

Updated by: , Contributing Editor

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