Escrow & Title
In Virginia, a deed of trust foreclosure (trustee's sale) is initiated when:
AThe borrower misses one payment
BThe lender accelerates the debt after a default and gives the trustee authority to sell✓ Correct
CA court orders the foreclosure after a trial
DThe borrower voluntarily surrenders the property
Explanation
A Virginia deed of trust foreclosure begins when the lender declares the debt in default, accelerates the full balance, and requests the trustee to conduct a non-judicial foreclosure sale, following required statutory notice procedures.
Related Virginia Escrow & Title Questions
- In Virginia, a judgment lien against a property owner attaches to all real property owned by the debtor in the jurisdiction where the judgment is recorded. To clear the lien, the property owner must:
- In Virginia, a 'subordination agreement' in real estate lending allows:
- RESPA's Section 9 prohibits sellers in Virginia from requiring buyers to:
- Under Virginia's priority rules, which lien generally has first priority?
- A Virginia title insurance policy with an 'endorsement' for 'ALTA 9 – Restrictions, Encroachments, and Minerals' provides additional coverage for:
- In Virginia, which statement about abstract of title is correct?
- Chain of title in Virginia refers to:
- In Virginia, who typically holds the earnest money deposit during the period between contract ratification and closing?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →