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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Nonjudicial: under power of sale in deed of trust |
| Time to respond | Foreclosing party must give homeowner notice within a reasonable time before sale (no specific time is specified) by publishing notice and by sending it through registered mail. |
| Reinstatement of loan before sale | Available for 10 days after homeowner is served with notice of right to cure, which can be served five days after homeowner defaults. Not available if a notice of right to cure is served three or more times. W. Va. Code § 46A-2-106 |
| Redemption after sale | No |
| Special protections for foreclosures involving high-cost mortgages | Some protections for a home equity line of credit. W. Va. Code § 38-1-14 |
| Special state protections for service members | W. Va. Code § 11-21-61 |
| Deficiency judgments | Allowed |
| Cash exempted in bankruptcy | $25,000 for individual or married couple |
| Notice to leave after house is sold | No special provisions for evictions following foreclosure. New owner will likely have to go to court to get an eviction order. Court-ordered evictions usually take two weeks to a month, depending on whether or not former owner responds to the lawsuit. |
| Foreclosure statutes | W. Va. Code §§ 38-1-3 to 38-1-15 |