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How Long Does Foreclosure Take?

How Long Does Foreclosure Take In Virginia - Virginia Beach, Chesapeake, Newport News, Norfolk, Richmond

Generally, the pre-foreclosure timeline is about three to four months of missed payments before the foreclosure process starts. Prior to beginning foreclosure, notice of the foreclosure sale must be advertised at least one per day for three (3) days or once per week for two (2) two weeks in a newspaper of general circulation in the county in which the property is located.  In the Hampton Roadsarea, the most popular paper to advertise in is “Inside Business”.  However, sale notices are also posted in the Daily Press and in the Virginia Pilot.  In Richmond, the Richmond Times Dispatch and other county newspapers may carry the advertisement.  Additionally, because of the integration of the internet and newspapers, these advertisements will show up in internet searches of the address.

In Virginia, the deed of trust controls and may contain the advertisement procedure and additional requirements.  If no procedure is prescribed the advertisement must run for once a week for four (4) weeks. If the property is adjacent to a city it may be sufficient to advertise for five (5) consecutive days.

Notice of the foreclosure or a copy of the advertisement must be served (usually sent certified mail) on the defaulted borrower/homeowner at least fourteen (14) days before the sale and must provide a description of the property being foreclosed upon, the time, place and terms of the sale. The foreclosure sale cannot occur earlier than eight (8) days after the first advertisement of the foreclosure sale and no later than thirty (30) days after the last advertisement.

In short, from the time the loan is put into the foreclosure department it takes roughly (Warning: Emphasis on “roughly”.) about five weeks until a sale.  The process can go quicker. Contact our Merna Law as soon as you receive a foreclosure sale notification.

At the foreclosure sale the property WILL SELL.  Your property will either be sold to a third part or will revert back to the first mortgage lender for the amount owned on the loan.  This means you will continue to owe the second mortgage lender, if applicable.  In most cases, a second mortgage lender will pursue the homeowner by filling for a judgment to collect the funds owed.  Therefore, even if it is your intent to surrender your house by allowing the foreclosure it is still a good idea to contact Merna Law to review your vulnerability to being garnished, levied or liened by the mortgage company.

We provide more information for our clients going through foreclosure in our “Foreclosure Portal”.



 The Merna Law Group, Attorneys At Law, P.C. …very helpful and friendly!5 Stars! “Everyone at the office was very helpful and friendly. The attorney answered all of our questions and helped us through the entire process. He was also very helpful answering concerns that we had after the process was completed/over. Highly recommended!” Reviewed by M.E. of Virginia Beach on Mar 11 . 
 The Merna Law Group, Attorneys At Law, P.C. …overall experience was outstanding!5 Stars! “My husband and I were very happy with The Merna Law Firm. They are well organized, time manageable, and friendly. I was even able to bring my children with me if I needed to. In court, they stayed right there beside us and answered all questions we had. Our overall experience was outstanding and I am glad we were represented by the Merna Law Group.” Reviewed by A.M. of Suffolk on Mar 5 . 
 The Merna Law Group, Attorneys At Law, P.C. …debt free!5 Stars! “A friendly staff and outstanding attorney who helped me through a difficult time in my life. Thanks to everyone at the Merna Law Group who helped me move on to and new chapter in my life debt free!” Reviewed by M.F. of Norfolk on Mar 8 . 
 The Merna Law Group, Attorneys At Law, P.C. …kind and friendly from the start!5 Stars! “Everyone there was kind and friendly from the start and helped us with everything in a timely manner. They were never rude no matter how much we called or asked questions.” Reviewed by B.P. of Virginia Beach on Feb 20 . 
 The Merna Law Group, Attorneys At Law, P.C. Didn’t have to worry about anything!5 Stars! “Just keep providing the type of service you do. You business values are based off reliability and service. Today’s Law Offices just don’t offer that kind of experience. Didn’t have to worry about anything!!! Just being able to go on with my normal life and know that all my issues are well taken care of is a relief in itself.” Reviewed by A.P. of Virginia Beach on Mar 4 .