Buena Vista, VA asked in Foreclosure and Real Estate Law for Virginia

Q: I am trying to find the law/order on mortgage/promissary statute of limitations in the state of virginia

Mortgage lender hasn't contacted me for over 9 years with no payments made for 9 years. Now received a letter stating it is from a "debt collector" which appears to be an attorney's office.

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1 Lawyer Answer
Dominic Paul Lascara
Dominic Paul Lascara
  • Chesapeake, VA
  • Licensed in Virginia

A: In Virginia, a deed of trust with a stated maturity date has a statute of limitations of 10 years from the maturity. If there is no maturity date, the statute of limitations is 20 years from the recordation date of the deed of trust, except for credit line deeds of trust. With a credit line deed of trust, the statute of limitations is 40 from the date the lien was created, if no maturity date is given. There is no statute of limitations on enforcement of federal deeds of trust unless specified in the deed of trust.

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