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What does VA consider to be the termination date?
Published 08/10/2012 04:29 PM | Updated 08/13/2012 09:01 AM
The sale date, conveyance or the date the final claim is paid?
The termination date is the date that the loan is terminated as defined by State Law. For most States this would be the date that the foreclosure sale is held. For certain states that require a confirmation or ratification, the date of termination is the date that confirmation or ratification is completed. 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.