Hi Khushboo,
Load balancer works for specific resources(Web server/application server) instead of whole virtual network.
Load balancer health probs define which instance is healthy and accepting resources: https://learn.microsoft.com/en-us/azure/load-balancer/load-balancer-custom-probe-overview
Now for Cross region load balancing you have Azure load balancer (Standard)
https://learn.microsoft.com/en-us/azure/load-balancer/cross-region-overview or you can go with Azure Front door/ Traffic manager to manage traffic between 2 regions .
Please Click "Accept as Answer" if this helps :)