Redemption and Deficiency Judgments in West Virginia
Whether you can buy back your home after a foreclosure sale in West Virginia, and whether the lender can sue for what's still owed.
Short answer: West Virginia law recognizes civil actions seeking a deficiency judgment on a debt secured by a deed of trust. W. Va. Code § 38-1-7
| Deficiency judgments | West Virginia law recognizes civil actions seeking a deficiency judgment on a debt secured by a deed of trust. After a trustee's sale, the trustee pays the expenses of the sale (including the trustee's commission), then the secured debts, and pays any surplus to the borrower. In an action for a deficiency judgment, the borrower and any co-maker, guarantor, surety or other defendant may not argue as a defense that the property's fair market value was not obtained at a trustee's sale conducted under the statute. Source: W. Va. Code § 38-1-7 |
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More West Virginia foreclosure & homeowner law
- How Foreclosure Works in West Virginia
- HOA Liens and Foreclosure in West Virginia
- Getting Your Home Back After a Tax Sale in West Virginia
- All West Virginia foreclosure & homeowner law rules
FAQ
Can the lender come after you for the rest of the loan after foreclosure in West Virginia?
West Virginia law recognizes civil actions seeking a deficiency judgment on a debt secured by a deed of trust. After a trustee's sale, the trustee pays the expenses of the sale (including the trustee's commission), then the secured debts, and pays any surplus to the borrower. In an action for a deficiency judgment, the borrower and any co-maker, guarantor, surety or other defendant may not argue as a defense that the property's fair market value was not obtained at a trustee's sale conducted under the statute.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.