West Virginia foreclosure laws

Foreclosure Laws by State

West Virginia Foreclosure Law Summary
Judicial Foreclosure Available	Yes
Non-Judicial Foreclosure Available	Yes
Primary Security Instruments	Deed of Trust, Mortgage
Timeline	Usually 60 days
Right of Redemption ¹	No
Deficiency Judgments Allowed ²	No

¹ A borrower's right to reacquire property lost due to a foreclosure.
² A personal judgment against the borrower for the remaining balance on the loan after a foreclosure sale.

West Virginia foreclosure law details

Lenders in the state of West Virginia may foreclose on deeds of trusts and mortgages in default using either the judicial or non-judicial foreclosure process. Non-judicial foreclosures are the most common procedure used today.

Judicial Foreclosure

A judicial process of foreclosure requires that the lender file a lawsuit and attain a court order to foreclose on a particular property.

Non-Judicial Foreclosure

If a power of sale clause exists in the deed of trust or mortgage document, a non-judicial process of foreclosure is used. This allows the lender to sell the property and pay off the balance of the loan in the event the homeowner defaults. The power to sell may be completed by the lender or their representative in situations where a power of sale exists. The procedure for this type of foreclosure process is explained in the "Power of Sale Foreclosure Procedure" listed below.

Power of Sale Foreclosure Procedure

If the deed of trust or mortgage has a power of sale clause and it details the time, place and terms of sale, then the outlined procedure must be followed. However, if the power of sale clause does not clarify the time, place and terms of sale, then a foreclosure sale is conducted as follows:

At least twenty (20) days before the sale, the notice is posted on the front door of the courthouse where the property is to be sold, the property itself and two (2) additional public places.
Notice must also be served upon the borrower and subordinate lien holders at least twenty (20) days prior to the foreclosure sale.
Publication of the notice in a Class III legal advertisement once a week for four (4) weeks is required.
The sale is conducted by public auction to the highest bidder. The buyer is required to pay one-third (1/3) of the bid amount in cash at the time of sale, unless otherwise specified by the deed's terms of sale.

The borrower has no rights of redemption after a deed of trust sale. Deficiency judgments are not allowed in West Virginia.