West Virginia is one of the cheapest States to buy a property in within the USA, and it is made even more affordable by the presence of West Virginia home foreclosures for sale, which have been repossessed and put onto the market via these West Virginia foreclosure listings.
Search through the best listings of foreclosures in West Virginia. We provide foreclosed homes and auctions in the major West Virginia cities. Choose a city and fing an excellent deal for you!
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These listings are always been renewed to make sure they have all the West Virginia foreclosures shown on them and this can hopefully help as many buyers and possible to secure a West Virginia foreclosure sale which will help them buy a cheap home for even cheaper!
This State of West Virginia is not surprisingly found to the west of Virginia and also has borders with Kentucky, Ohio, Pennsylvania and Maryland. Its largest city is also the state capital which is the city of Charleston, (which is where the dance originated and took its name from in the 1920's). The state was formed as a breakaway from the state of Virginia during the American civil war. It is well known for its mountain areas, and also for its historical routes in the coal mining and logging industries which helped to form the state into what it is today. It is known as one of the more active states, because of all of its links to sports such as skiing, hiking, mountains biking, fishing, hunting (although this has decreased slightly in recent years) and also white-water rafting, which is another way that the environment and landscape of the State has contributed to shaping the State. West Virginia has a population of nearly two million at the last count, which is in the middle of the list of states in order of population; however the median income for a person is $38,000, which is the third lowest out of any State in the whole of the United States!
This shows how West Virginia is a very poor State with the median income for a household being a mere value of just under $30,000, which is way under the national average and so is the income per family which is around $36,000 currently. The same goes with the values and prices for homes in West Virginia home foreclosures, with the average value of a home being only $72,000 and the median price that owners are asking for properties right now is only $46,300 which is nearly half of the national average! All of these figures show how it is a very cheap place to move into.
West Virginia allows both judicial and non-judicial foreclosures, although non-judicial foreclosures are the most common. This occurs when a mortgage contains a Power of Sale clause, allowing the lender to pursue a foreclosure against a defaulted borrower (homeowner) without obtaining a court order. In this case, the lender must first supply the homeowner with a Notice of Default, informing them of the impending foreclosure due to default on their mortgage loan. If payment is not received within ten days, the lender may accelerate the loan status to require payment of the full loan amount and schedule a foreclosure sale of the property. The homeowner may stop the foreclosure process at any point up until the sale by paying off the full amount of their mortgage loan.
Prior to the foreclosure sale, the lender must publish a Notice of Sale in a local newspaper twice over a period of two weeks, although individual mortgages may specify differently. A copy of the Notice of sale must be mailed to the homeowner and any Junior Lien holders (other lenders from whom the homeowner might have received mortgage loans) a minimum of 20 days before the sale takes place.
Foreclosure sales in West Virginia are conducted as public auctions. The opening bid is usually set at 2/3 to 3/4 of the market value of the property. Once a winning bidder has been established, a deed transferring ownership is usually presented within 30 days.
Under West Virginia foreclosure law the original homeowner is entitled to no redemption rights, although individual mortgage agreements might contain redemption period stipulations.
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