Home / FAQs / What does VA consider to be the termination date?

What does VA consider to be the termination date?

The termination date is the date that the loan is terminated as defined by State Law. In most states, it is the date in which the foreclosure sale is held. The date in which the confirmation or ratification is completed may be taken as the termination date if the state requires the ratification or confirmation. For compromise sales the termination date is the date of closing. For deed in lieu of foreclosure the termination date is the date the deed is recorded.

Leave a Reply

Your email address will not be published. Required fields are marked *