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West Virginia Foreclosure Laws

Both judicial and non-judicial West Virginia foreclosures are available, though non-judicial foreclosures are most common. Almost all mortgages in Washington contain Power of Sale clauses, granting the lender the right to pursue foreclosure without the court's supervision. The lender must first supply the homeowner with a Notice of Default informing them of the threat of foreclosure if payment is not received in ten days. After this point, the lender may accelerate the loan and demand the full amount of it back from the homeowner. To accomplish this, the lender will schedule a foreclosure sale. The homeowner can stop this process by submitting the full amount of their loan at any time before the sale actually occurs.

Prior to the sale, the lender must publish a Notice of Sale twice in a local newspaper, though some mortgages may call for more time. The homeowner and any Junior Lien holders are entitled to receive the Notice of Sale at least 20 days before the sale occurs.

On the day of the foreclosure sale, a trustee of the lender auctions off the homeowner's property to the highest bidder. The opening bid must be at least 2/3 to ¾ of the property's market value. The winning bidder is entitled to receive a deed within 30 days. West Virginia foreclosure law does not allow any rights to redemption for the homeowner, although some mortgages may call for redemption periods to be granted.

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