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Commission for trustee’s foreclosure cut by judge (access required)

Law changed in 1998

A decision by a Middlesex County judge highlights an open question in the business of foreclosure in Virginia: How much can a foreclosure trustee charge as a commission? For 11 years, the law has required only a “reasonable commission” for handling the sale of foreclosed properties. In practice, apparently, fees in the neighborhood of 5 percent ...

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