Current Nevada Law: Subject to Verification
This article discusses Nevada title, deed, foreclosure, property-tax and HOA law under current Nevada law as of the last reviewed date, and it is subject to change. Nevada deed-of-trust foreclosure procedures are governed primarily by NRS Chapter 107; Nevada common-interest-community (HOA) lien and foreclosure law is governed primarily by NRS Chapter 116. Statutes, deadlines, procedures and remedies change. Always verify current Nevada law and the specific facts of your situation with a qualified Nevada attorney and title professional before acting.
Tell Lisa Immediately
Do not hide the foreclosure notice because you are embarrassed. The notice affects the timeline, title, payoff, and strategy.
Get the Payoff
Your ordinary online balance may not reflect the full reinstatement or payoff amount.
Determine Market Value
If value exceeds obligations, a traditional sale may be possible. If it does not, a lender-approved short sale may need exploration.
Contact Servicer
Do not assume listing automatically stops foreclosure. It generally does not. The servicer needs to know what is occurring, and applicable foreclosure deadlines must continue to be monitored.
Buyer Contracts
A buyer should not be promised a closing date that ignores an active foreclosure.
