Virginia Foreclosure Help – Stop Foreclosure in Virginia


Finding Foreclosure Help in Virginia

Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services.

Richmond Field Office

600 East Broad Street, Third Floor
Richmond, VA 23219

Phone: (800) 842-2610

Fax: (804) 822-4984
TTY: (804) 771-2038

Jurisdiction: State of Virginia (Except as noted below under Washington, DC)

Everard Mattox
Acting Field Office Director

Office Hours: 8:00 a.m. to 4:30 p.m.

Monday through Friday

District of Columbia Field Office

820 First Street, NE, Suite 300
Washington D.C., 20002

Phone: (202) 275-9200
Fax: (202) 275-6381

TDY: (202) 275-6388

Jurisdiction: Washington, DC; City of Alexandria, VA; Fairfax County, VA; Arlington County, VA; Prince William County, VA; Loudoun County, VA; Montgomery County, MD and Prince George’s County, MD.

John E. Hall
Field Office Director

Office Hours: 8:00 AM to 4:30 PM
Monday through Friday

Virginia Foreclosure Laws Summary

Quick Facts:

  • Judicial foreclosure process is available.
  • Non-judicial foreclosure process is available.
  • The primary security instruments are mortgages and deeds of trust.
  • The timeline can vary by process, which typically takes 60 days.
  • The borrower’s right of redemption varies.
  • The lender may sue for deficiency judgements.

The judicial and non-judicial processes may be used to foreclose on mortgages in default in Virginia.

Judicial Foreclosure
This process is used when there is no power of sale clause present. This is done by filing a lawsuit to obtain a decree of sale from the court. Once this has been approved, the property may be sold at an auction to the highest bidder.

The borrower may still reclaim the property until 240 days from the date of sale by paying the foreclosure sale price plus 6% interest.

Non-Judicial Foreclosure
This process is used when a power of sale clause is present in a mortgage deal. This clause states that the borrower has pre-authorized the sale of the property in case of their default. the lender or a trustee may now sell the property as long as the “Power of Sale Foreclosure Guidelines’ are followed.

Power of Sale Foreclosure Guidelines
If the power of sale clause indicates the terms of sale, these must be followed. In addition to this, an ad announcing the sale must be published in the county newspaper once a day for 3 days. If no terms are indicated in the power of sale clause, the ad must be published once a week for 4 consecutive weeks. If the property is near a city, the ad must be published on 5 different days, which may be consecutive. A copy of this notice of sale must also be sent to the borrower at least 14 days before the sale.

The notice of sale must include all important information regarding the sale, including time and date of sale, a description of the property and the person to contact if a potential buyer has inquiries.

The foreclosure sale may be stopped when the borrower cures the default by paying the lien debts, other costs and attorney’s fees.

The sale must take place at least 8 days after the first ad has been published, and no later than 30 days after the last ad has been published. Anyone, including the lender may bid on the property by submitting one price bids. Any other bidder may inspect the bids so that they can make their own bids. The trustee may require a deposit of 10% of the price in cash as downpayment.

A foreclosure sale may postponed to any time as long as the new date is advertised the same way as the originally scheduled date.

The money obtained from the sale will go to payment of the balance of the mortgage, plus taxes and other costs. The rest will go to the borrower.

Deficiency judgements may be obtained without limits in Virginia.