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Category: Real Estate Law
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Experience:  Attorney and Real Estate broker -- Retired (mostly)
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What is the statute of limitations on deficiency judgments

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What is the statute of limitations on deficiency judgments following foreclosure in Virginia?
The statute of limitations for a deficiency arising from a breach of a loan contract or mortgage is five years from the date of the breach/foreclosure sale. Va. Code § 8.01-246(2). Once a judgment is entered against the borrower, the period of enforcement of the judgment is 20 years. Va. Code § 8.01-251.

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