Foreclosure Timelines In Nevada

foreclosureForeclosures are at an all time high, real estate markets are slowing down, interest rates are going up, and homeowners are starting to panic about not being able to make their mortgage payments. Foreclosure homeowners are distressed. You prioritized your spending and saved enough money for a small down payment. If you don’t file an answer to the lawsuit, you’ll automatically lose the case and the court will issue the lender a default judgment permitting it to proceed with a foreclosure sale.foreclosure

Recovery from the devastating affects of foreclosure is the second step for homeowners. Foreclosure is a situation in which a homeowner is unable to make mortgage payments as required, which allows the lender to seize the property, evict the homeowner and sell the home, as stipulated in the mortgage contract.

A judicial foreclosure involves going through a court and allows the homeowner to contest the foreclosure. At this …