Real Estate Law
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Under Virginia law, the statute of limitation for a deed of trust is 10 years. Here is a link to the statute: http://law.lis.virginia.gov/vacode/title8.01/chapter4/section8.01-241/
Thus, the lender is still within that timeframe to sue to recover the debt.
Thus, your best option is likely to try and settle the debt with the lender and avoid having a judgment rendered against you.