Foreclosure
FORECLOSURES
The thought of facing bankruptcy or foreclosure is never easy, but having an experienced lawyer to help you figure out what options are best for your financial future can help. There are other approaches to may help you avoid foreclosure as well. Contact us
to request a free initial consultation to discuss options that will help get you back on track.
WE CAN HELP WITH:
- Loan Modification
- Short Sale
- Predatory Mortgage Service
- How Foreclosure Affects Your Credit
- Wiping Out 2nd Mortgages
- Strategic Default
Types of Foreclosure:
Non-Judicial Foreclosure
Non-Judicial Foreclosure is the most common form of foreclosure in Nevada and does not require court involvement. This type of action starts when you have not paid 3 to 6 months of mortgage, and once your lender files a Notice of Default (NOD). The Notice of Default will be recorded with the County Record’s Office and a notice will be placed on your front door. You then have 35 days to pay the missing payments. If you request mediation, the foreclosure must be halted until a decision is made.
Judicial Foreclosure
A Judicial Foreclosure begins when your lender files a civil lawsuit in regards to a foreclosure complaint. If the court grants your lender the ability to sell your property in an auction, you will receive a notice placed on your door. After the foreclosure sale, you have one year to redeem the property or begin mediation.