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Stop Foreclosure - West Virginia |
West Virginia Foreclosure Law Summary
Most Common Method of Foreclosure: Power of Sale.
Preforeclosure Notice:
Number of Notices: One.
Amount of Notice Required: If to the mortgagor, within a reasonable time before the sale. If to any subordinate lienholder, at least twenty days prior to the sale.
Content of Notice: a) Time and place of sale; b) names of parties to the deed; c) date of the deed; d) office and book in which it is recorded; e) description of the property; and f) terms of sale.
Method of Service: By publication, and by certified mail return receipt requested.
Right to Cure Default/Reinstate: For ten days after the notice of right to cure is served; the notice of right to cure can be served five days after the default. No right to cure if in default and notice is served three or more times.
Redemption: None if the sale is confirmed.
Deficiency: Surplus sale proceeds go to the mortgagor. Return of account must be made within two months after the sale or the trustee forfeits its commission.
Miscellaneous: See statutes for special provisions regarding foreclosure of a credit line for a deed of trust.
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