Skip to Main Content
PROFESSIONALLAW ASSISTSaving Homes · Changing LivesNationwide Foreclosure Defense

Virginia

Virginia Code § 55.1-320. Non-Judicial foreclosure state.

Get a Free Case Review
CallText
30+ Years Experience Nationwide Service Fast Response Confidential

Judicial Type

Non-Judicial

Redemption

No statutory right of redemption after non-judicial foreclos

Deficiency

Lender may pursue deficiency. Deficiency limited to debt − f

Mediation

No mandatory statewide program. Virginia Housing provides fo

Statute Citation

Va. Code Ann. §§ 55.1-320 to 55.1-343

Redemption Period

No statutory right of redemption after non-judicial foreclosure. The foreclosure sale is final. The borrower's equitable right of redemption ends when the trustee's deed is recorded.

Deficiency Judgment Rule

Lender may pursue deficiency. Deficiency limited to debt − fair market value (Va. Code § 55.1-332). The borrower must assert the fair value defense. Deficiency action must be brought within 6 months of sale.

Notice Requirements

Notice of sale published and mailed to borrower. Notice must be sent at least 14 days before the sale. Virginia requires strict compliance with the terms of the deed of trust.

Mediation Program

No mandatory statewide program. Virginia Housing provides foreclosure prevention resources and counseling.

Key Provisions

  • Non-judicial foreclosure under power of sale
  • Strict compliance with deed of trust terms required
  • No post-sale redemption
  • Fair value defense to deficiency

Homeowner Protections

  • Fair value limitation on deficiency (must assert as defense)
  • Notice requirements provide some advance warning
  • Strict compliance with deed of trust terms — deviations void the sale
  • Virginia Housing counseling and prevention resources

Frequently Asked Questions

How does Virginia's fair value defense work?+
If the lender sues for deficiency (within 6 months of the sale), you can assert the fair value defense under Va. Code § 55.1-332. You present evidence of the property's fair market value at the time of the sale. If the court finds the fair market value is higher than the sale price, the deficiency is limited to debt − fair market value. This is an AFFIRMATIVE DEFENSE — you must raise it in the deficiency action, or you lose it. Failure to assert the fair value defense means the deficiency = debt − sale price (which may be much lower).
Back to All StatesGet a Free Case Review
Free · Confidential · No Obligation

Ready to Protect Your Home?

Every day matters when facing foreclosure. Get your free, confidential consultation and learn your options — no obligation.

Get Your Free Consultation
CallText

Available Monday–Friday · 10:00 AM – 6:00 PM Pacific

Call/Text NowFree Consultation