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Nevada Foreclosure Law and Procedure

Here is a summary of foreclosure laws and rules for the State of Nevada:

  • Both a judicial and non-judicial foreclosure is available.
  • The foreclosure begins with filing the petition and recording of the notice of default.
  • It can take up to 116 days to process the documents and the date of publication must be published for 80 days.
  • If the foreclosure fails to generate sufficient proceeds to pay off what remained due on the loan, then the lender may sue for a deficiency within three months after the foreclosure sale.
  • A deed of trust sale gives the foreclosure purchaser clear title free of any right of redemption for the old borrower.
  • There is a one year redemption on judicial sales.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Nevada those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
What are Nevada's foreclosure laws?
Posted by Ralphmcd3 on Fri, 01/02/2009 - 23:00

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Posted by Ralphmcd3 on Thu, 07/23/2009 - 07:29.

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