Bill Text: VA HB821 | 2012 | Regular Session | Prefiled
Bill Title: Wrongful foreclosure; creates civil cause of action for owner of any residential real property, etc.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-02-14 - House: Left in Courts of Justice [HB821 Detail]
Download: Virginia-2012-HB821-Prefiled.html
12101264D Be it enacted by the General Assembly of Virginia: 1. That the Code of Virginia is amended by adding a section numbered 55-59.5 as follows: §55-59.5. Wrongful foreclosure; civil action. The owner of any residential real property may maintain a civil action against any person who wrongfully asserts that he is, or has the authority to act as, the holder of the obligation secured by a deed of trust or mortgage on such property and who initiates any foreclosure proceeding upon such property. If a court determines that the person who wrongfully asserts that he is, or has the authority to act as, the holder of the obligation secured by a deed of trust or mortgage has wrongfully foreclosed upon such property, then the owner is entitled to recover actual damages incurred as a result of the wrongful foreclosure, in addition to reasonable attorney fees and costs. |