How long does foreclosure take to complete?

The length of time it typically takes to complete a foreclosure in Virginia depends on the type of foreclosure being initiated and the resources available to the lender. Typically, a foreclosure process can take anywhere from 90 days to more than a year. The first step to initiate a foreclosure is typically filing a complaint with the court. After this is done, the lender must notify the borrower of the details of the foreclosure process. The borrower then has 21 days to respond to the complaint. After this time period passes, the lender can proceed with the foreclosure process. If the borrower fails to respond, then the lender can move to obtain a default judgment and the foreclosure process is shortened significantly. If the borrower does respond, then the lender must provide additional evidence to the court before getting a judgment. This process can take months, depending on the complexity of the case and the resources available to the lender. Once a judgment is reached, the lender must file a Notice of Sale with the court. This typically happens 60 to 90 days after the judgment is made. This is when the borrower must vacate their property, as the lender is now in control of the property. The property is usually sold within 30 days of the Notice of Sale. Depending on the resources available to the lender and the complexity of the case, a foreclosure in Virginia can take anywhere from 90 days to more than a year.

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How long does foreclosure take to complete?

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