Virginia Housing Development Authority v. Fox Run Ltd. Partnership

These two appeals arise from a foreclosure sale of a multi-family housing project. In the first appeal, we consider whether the note-holder and purchaser at that sale is entitled to collect the “prepayment fee” provided for by the terms of the notes secured by the deed of trust. The second issue we consider, raised in both appeals, is whether the advertisement of the foreclosure sale by the trustee adequately disclosed that certain personal property, also encumbered by the deed of trust, was to be sold along with the real property.

BACKGROUND

The parties do not dispute the principal facts. On…