Nevada Foreclosure Timeline and Laws

Nevada 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.

Nevada’s preferred method of foreclosure is by non-judicial foreclosure. The property is auctioned at a public foreclosure sale.

Lenders can also go to court for a judicial foreclosure proceeding by filing a lis pendens and complaint, which must be served on the borrower and any interested parties. The court must approve the sale.

Notice Requirements for Foreclosure in Nevada

Prior to initiating a foreclosure, the lender must serve a notice of default on the borrower and interested parties by certified mail, giving the borrower 35 days to cure same. The borrower has 15 days prior to the sale and after receiving the notice to cure default to stop the foreclosure by filing an intent to cure with the Public Trustee’s office.

The notice of foreclosure sale must be sent within 21 days of the sale date to the borrower and interested parties, stating the time, place and sale date.

Nevada 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.

Nevada Redemption Rights

Nevada has no post-sale statutory right of redemption.

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

Foreclosure Programs:

• Nevada 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

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