In the December 4, 2015, issue of the Federal Register (80 FR 75899, click here), the Department of Veterans Affairs (VA) issued a notice concerning the state foreclosure timeframes allowable in the calculation of the maximum interest payable on a foreclosure of a VA-guaranteed loan. The new foreclosure timeframes will be effective for all loan terminations completed on or after January 4, 2016. The following table represents the Secretary’s determination of the reasonable foreclosure timeframes for the preferred method of terminating VA-guaranteed loans. VA will extend the timeframes, and increase the amount of resultant interest payable under a claim, if VA determines that an acceptable cause prevented the holder from foreclosing timely. For an explanation of the allowable causes and the procedures for requesting increases, see 38 CFR 36.4314(f)(2), 36.4324(a)(3)(ii), VA Loan Electronic Reporting Interface (VALERI) Servicer guide, and VA’s Web site at Jurisdiction Timeframe (calendar days) Jurisdiction Timeframe (calendar days) Jurisdiction Timeframe (calendar days) Alabama 360 Kentucky 540 North Dakota 630 Alaska 450 Louisiana 510 Ohio 570 Arizona 330 Maine 690 Oklahoma

Complete Memorandum