What happens if I fail to make payments during a foreclosure process?

If you fail to make payments during a foreclosure process in West Virginia, you will be subject to a judicial foreclosure. This means that a court must issue an order for you to leave your home. The court will also declare the property lender’s right to take ownership of the home. Your lender is not allowed to seize the home or take other steps to foreclose on it until the court issue a foreclosure order. Once the court issues the order, your lender may take possession of the home and sell it to recoup its losses. Your lender must provide you with notice of the foreclosure process so that you can take steps to try to save your home, such as negotiating with your lender for a loan modification or other type of agreement. You may even be able to get some assistance from the West Virginia Foreclosure Assistance Program. It is important to remember that during the foreclosure process, you still retain the right to make payments on your loan. If you are able to make payment before the court issues a foreclosure order, then you may be able to save your home and avoid foreclosure. Therefore, it is important to be proactive and reach out to your lender early in the foreclosure process.

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What happens if I fail to make payments during a foreclosure process?

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