Learn about the key features of Virginia's foreclosure laws.
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 |
|
Notice of the foreclosure |
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 of general circulation once a week for four consecutive weeks or five days, unless deed of trust provides for a different interval (but not less than once a week for two weeks or once a day for three days). 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 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 |
|
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, though foreclosed homeowner may receive a five-day notice to quit. |
|
Foreclosure statutes |
Va. Code Ann. § § 55-59 to 55-66.6 |
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