Foreclosure in Virginia is typically:
Correct Answer
B) Non-judicial, through a trustee sale
Virginia allows non-judicial foreclosure through a trustee sale as provided in the deed of trust.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
A trustee sale is a type of foreclosure where a trustee, appointed under a deed of trust, sells the property at auction to satisfy the debt.
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