What is the foreclosure timeline for my state?

In Virginia, the timeline for foreclosure is set out in the Virginia Code Annotated. The entire process can take up to nine months or more. The process begins when the lender files a Complaint of Foreclosure and the Summons in the Circuit Court of the county or city where the premises are located. The homeowner must be served with copies of the Complaint and the Summons. The homeowner then has 21 days from service to file a Notice of Defense or Answer with the court. If the homeowner does not do this, the lender can ask for a default judgment, which would give the lender the right to proceed with the foreclosure. If the homeowner files an Answer, the court will set a date for a hearing, usually within 30 to 60 days. At this hearing, the court will decide whether the foreclosure action will proceed. If the court decides in favor of the lender, the lender is granted the right to proceed with the foreclosure process. The court usually sets a date for the foreclosure sale to take place. The foreclosure sale typically takes place 30 to 60 days after the court decision. If the lender is the highest bidder at the foreclosure sale, the deed is transferred to the lender. This ends the foreclosure process in Virginia. If the lender does not become the highest bidder, the process could begin again. This could occur when the deed is transferred to the highest bidder but the bidder fails to meet the terms of payment. It is important to note that the foreclosure timeline can vary depending on the situation. The overall timeline for foreclosure in Virginia can take up to nine months or more.

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