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WV Foreclosures

West Virginia Foreclosure rates at present are one of the lowest in the entire nation. The primary reason for such a low number is the traditional practices that are still followed in WV where people do not consider home as a separate entity but part of them and thus can do anything to protect that. Moreover the lending practices that are followed in WV are very rigorous. There are very less number of sub prime mortgage loan seekers that is also helping in keeping the number low. There are only two states Vermont and North Dakota that are behind WV in the number of foreclosures.

West Virginia Foreclosure Laws

In West Virginia, foreclosure law with which the process of foreclosure can take place allows two types of foreclosures. Which are
  • Judicial Foreclosure
  • Non-Judicial Foreclosure

WV Foreclosure Process

For non judicial foreclosure the deed of trust contains the Power of Sale Document in which the procedure for the foreclosure can be mentioned or it can be without this. But there are Power of Sale Guidelines which are followed for advertising the notices at different period of time during the foreclosure in West Virginia. Following procedure is followed for the foreclosure in WV:
  • Post the notice of sale at the door of courthouse in the county where property is located. This notice is posted 20 days prior to the date of sale and at three different public places. The one place should be courthouse and other one should be property itself.
  • 20 days before the date of sale, the WV foreclosure notice must be sent to the borrower. Along with this it should also be served to the sub ordinate lien holders.
  • Notice of sale is published as class III legal advertisement that means it should appear once in every week for four consecutive weeks .
  • the said notice of sale should have place and date of sale, parties involved, description of the property to be foreclosed upon, terms of sale, date of the deed and sale's terms.
  • Sometimes the amount to be paid by the highest bidder at the auction is defined. But if it is not been defined then the one third of the bid amount should be given in cash at the sale itself.
Commonly there is no right of redemption and deficiency judgment that is allowed in West Virginia according to the foreclosure law.

West Virginia Foreclosed Homes

If you are looking forward to buy a foreclosed home in West Virginia then you can consult the Real Estate Agent or realtors for finding more information on the listing and available foreclosed properties in WV. Along with this every notice that is published in the newspaper and posted at the public places can also be checked for finding the WV foreclosure properties and WV bank foreclosures.
Home For Sale by Owners
Home For Sale by Owners has the listing of foreclosed homes and properties for sale in West Virginia. Even if you are the seller of the home then also you can use the listing for placing your home there.
All the latest foreclosure homes are listed in the e-foreclosure along with complete list of foreclosure homes. Besides this info on bankruptcy, pre-foreclosures, bank foreclosures, VA homes etc has also been given.
Home Assure:
Home Assure explains the process of foreclosure and assists you to stop the foreclosure process in WV. The operation center of Home Assure is in Florida where strategic planning to save your home is made.

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