Sandra purchases a home in Virginia Beach using a deed of trust. She later defaults on her loan payments. Under Virginia law, who has the authority to conduct the foreclosure sale without obtaining a court order?
Correct Answer
D) The trustee, exercising the power of sale clause
Virginia is a non-judicial foreclosure state. When a borrower defaults, the trustee has the authority to conduct a foreclosure sale under the power of sale clause contained in the deed of trust — without any court involvement. This process is faster than judicial foreclosure states because no lawsuit or court order is required.
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