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If the bank forecloses on your home, you can be liable for the difference in what you owe vs. what they sold it for at the foreclosure sale.
If you complete a short sale you could be liable for taxes on the difference between what you sold the house for and how much you still owed on your mortgage.
A homeowner can’t redeem their mortgage AFTER the Notice of Sale has been filed.
You should have your financing in place at the time you bid on a property at the courthouse foreclosure sale.
Under SB321 there is no notice of the homeowner’s right before the NOD is filed.
If a person’s house is not sold at the foreclosure sale, then the entire foreclosure process has to be started again by the bank.
A lender must provide a borrower information about foreclosure prevention alternatives offered by the servicer.
In Nevada Judicial foreclosure may be performed.
In a non-judicial foreclosure there is no redemption period after the foreclosure sale.
Partial claims and Deed in Lieu of Foreclosures are “friendly foreclosures.”
A person who, directly or indirectly, makes any solicitation, representation or offer to a homeowner to perform for compensation, the prevention or postponement a foreclosure sale is legally referred to as a:
In addition to administrative sanctions, a person who commits a prohibited act under NRS 645F (covered services) may be fined as much as:
A borrower who agrees to transfer title to the lender to avoid foreclosure proceedings is pursuing a:
The bankruptcy that involves the reorganization of a business is a:
Some refer to a short sale as a:
Which of these terms is associated with a non-judicial foreclosure?
With a deed of trust, the borrower is referred to as the:
In Nevada, the reinstatement period of a non-judicial foreclosure is what number of days?
If a residential foreclosure, the notice of default must be posted on the property itself for what number of days before the date of the sale?
All of the following represent “hardships” that are commonly accepted by mortgage lenders in a potential short sale EXCEPT: