Nebraska Foreclosure Timeline and Laws

Nebraska Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you and auction your property at a foreclosure sale.

The majority of Nebraska foreclosures are non-judicial. A judicial proceeding may be conducted if there is no power of sale clause in the deed of trust.

Notice Requirements for Foreclosure in Nebraska

To start foreclosure, the attorney conducting the foreclosure must file/record a notice of default and notice of sale with the register of deeds, and send a copy to the borrower and junior line holders not less than 10 days thereafter. Notice of sale must be mailed 20 days before the sale date.

The notice stating the time, day and place of sale must be published by the lender commencing 10 days after filing, for five consecutive weeks, the last publication being at least ten days before the sale, but no more than thirty days, in a newspaper of general circulation in the country where the property is located, and published for three consecutive weeks when no address or request is contained in or made pursuant to the deed of trust.

Nebraska Deficiency and Anti-Deficiency Laws

The lender may obtain a deficiency judgment if the property is sold at a public sale for less than the loan amount.

Nebraska Redemption Rights

Nebraska has no post-sale statutory right of redemption.

Nebraska Assistance, Special Programs, Government Help, and Law Updates

 Foreclosure Programs:

 Nebraska Foreclosure Avoidance Counseling -HUD

• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

It is recommended that you consult with a Nebraska foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.