The Foreclosure Injustice in The Non-Judicial States
In the State of Virginia the law has changed in 2009 making things easier for lenders and now borrowers have just a little time to get proof and file a legal suit against its foreclosure process.
It is now three years since the crisis in the housing market started. Meanwhile Maryland and District of Columbia have altered their foreclosure laws to allow for greater protection to the borrowers. However Virginia has gone in the reverse direction.
In 2009 the legislature of Virginia State unanimously made into law a bill making things easier for the lenders. They will be better able to argue in their defense in courts when challenged by the borrowers for giving the latter very little warning of the forthcoming foreclosures.
In Virginia the process moves so swiftly that the house owners get less than a fortnight to note that their property is about to be sold in an auction; it is the fastest in the entire country. The situation leaves the borrowers facing an impossible deadline. Within that short time they have to get proof, file a legal suit and be prepared with thousands of dollars to deposit with the court as bond. It is not surprising that many of the victims fail to comply with this tall order and for them time runs out.