Nevada's Foreclosure Process

Las Vegas Attorney describes the foreclosure process in Nevada giving a simple timeline. There may be good reasons to want foreclosure, such as invoking the statute of limitations against the foreclosing mortgage. But for those who want more time in their home or more time to do a short sale, Nevada's Foreclosure Mediation program is a good way to stop the Bank in their tracks and make them prove up with documents and good-faith negotiations.

There are several planning issues to foreclosures or short sales that you need to know about: Don't go into it blind. This video is only for educational purposes and is no substitute for legal advice catered to your specific circumstances.

NOTE: THIS VIDEO WAS RECORDED PRIOR TO THE LATEST CHANGES IN THE LAW. 2ND MORTGAGES IN FORECLOSURE HAVE THE SAME STATUTE OF LIMITATIONS AS 1ST MORTGAGES - 6 MONTHS. FURTHERMORE, THE SIX YEAR STATUTE OF LIMITATIONS FOR SHORT SALES WAS REDUCED TO MATCH THE FORECLOSURE STATUTE---ALL EFFECTIVE FOR SALES HAPPENING AFTER JULY 1, 2011 (NOT RETROACTIVE).

Courtesy of The Law Office of Eric Earley
www.PropertyLawGuy.com

Category:

Education

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