Virginia passed a bill requiring lenders and servicers to provide a stay of foreclosure upon receipt of the borrower’s request. Under the bill, a lender or servicer must stay a foreclosure involving a 1-to 4-family residential property for 30 days if: the Governor has declared a state of emergency (Emergency) due to the COVID-19 pandemic; the borrower requests a stay within 90 days of the initial declaration of the Emergency or within 90 days following the end of the Emergency (whichever is later); and the borrower provides written proof that the borrower is not receiving wages or payments, or is receiving reduced wages or payments, due to the Emergency. The foreclosure stay does not apply to borrowers subject to protection from foreclosure under the provisions of other federal, state, or local law enacted in response to the COVID-19 pandemic or the Emergency. The bill went into effect November 9, 2020.
See Virginia General Assembly website for the full text of the Statutes:
https://lis.virginia.gov/cgi-bin/legp604.exe?202+ful+CHAP0049+pdf
