​VA Amends Provisions Regarding Trustee Requirements (VA HB2175)

The new state bill is increasing the period for a foreclosure sale notices from 14 to 60 days and is requiring such notices to include information about the housing counseling. It also requires that an affidavit signed by the party that provided notice of the sale to the owner confirming that such notice was sent to the owner, with a copy of such notice attached to the affidavit. The foreclosure-related notice requirements will go into effect on October 1st, 2021.

This bill also provides several additional protections to the owners and tenants of manufactured homes, including restrictions for enforcement of judgment liens when the debt is less than $25,000 and providing additional notices about state housing rights and counseling.

Servicers shall be aware that the modified pre-foreclosure sale notice requirements will extend the overall foreclosure timelines. Document Link