This article deals with foreclosure of a deed of trust in Virginia.
The Introduction discusses the deed of trust or mortgage as a social
and political institution and the foreclosure crisis that seems
to be ending. Part I is a brief history of mortgage law. It provides
a short history of the modern mortgage system in the United
States. Part II follows with a description of the approach that
Virginia takes to mortgages. It localizes the mortgage institution
to Virginia and introduces Virginia's vocabulary and technical details,
the deed of trust, and the parties' rights and obligations.
Part III provides the procedures required to foreclose in Virginia
and sell the property used to secure the debt in the event of mortgage
default. It develops the debtor's default, the creditor's foreclosure,
and the sale. Part IV outlines the potential responses and
defenses that a borrower may use when facing foreclosure after
default. It includes the borrower's defenses, redemption, techniques
to assert a defense, the "show-me-the-note" response, the
Servicemembers Civil Relief Act, federal bankruptcy, and selfhelp
and civil disobedience. The ideas for change in Part V offer
suggestions for reforming the Virginia mortgage system to better
protect borrowers, while maintaining the efficiency of the foreclosure
Foreclosure of a Deed of Trust in Virginia,
U. Rich. L. Rev.
Available at: https://scholarship.richmond.edu/lawreview/vol51/iss1/9