Legal Question in Real Estate Law in Virginia

Deficienty Judgement in VA after foreclosure?

My townhome was was sold at the trustee sale on past Monday. I was told that the protective bid at the sale was $455k, which would represent the full loan amount, interest, and cost. Could there be a deficiency judgment in this case (full bid at the sale)? If so, how is the deficiency amount determined and how long does lender have to file the deficiency judgment? My property is located at Alide, VA . Any assistance would be greately appreciated. If possible, please refer me to VA statue so that I could learn more about it.


Asked on 1/28/09, 10:31 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Deficienty Judgement in VA after foreclosure?

No, if it was a "no recourse" loan and the facts are as you state, there should be no deficiency judgment resulting from the trustee sale of this property.

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Answered on 1/28/09, 11:56 pm


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