Finally – a new law that helps Associations when foreclosures occur – House Bill 2080 (VA)
The General Assembly finally heard the hue and cry from us about lenders abuse of associations in the foreclosure process. Unfortunately this new statute does not fully end the abuse. The key word in the title above is “occur”. The first benefit of the new law is that Lenders must now give associations notice at least 60 days in advance of initiating foreclosure. How does this help us? Read the article…………..