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State of Nevada Foreclosure Mediation Program February 2011 Phone: (702) 486-9382 Email: vcampbell nvcourts.nv.gov Verise V. Campbell, Deputy Director Committee: Assembly Judiciary Exhibit: C ; P.

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Nevada is a Non-Judicial Foreclosure State It's a 3 step process, starting off with a Notice of Default, Notice of Sale and ending with an auction.

The right of redemption allows homeowners to keep their homes if they pay back what they owe even after their lender starts the foreclosure process or puts the home up for sale at public auction.

In Nevada, for owner-occupied properties, you get the right to “reinstate” the loan and stop the foreclosure by bringing the loan current in one lump sum payment. After you reinstate the loan, you resume making your regular monthly payments. Your right to reinstate expires five days before the sale.

Redemption is a period after your home has already been sold at a foreclosure sale when you can still reclaim your home. You will need to pay the outstanding mortgage balance and all costs incurred during the foreclosure process. Many states have some type of redemption period.

A borrower has ninety (90) days after the recordation of a notice of default to pay any default. This is commonly referenced as the redemption period. The borrower must receive a twenty (20) day notice before any foreclosure sale.

Nevada is a Non-Judicial Foreclosure State Nevada is a non-judicial state, which means that the foreclosure is completed by an auction sale as opposed to a court proceeding. The lender must appoint a 3rd party, the trustee, to handle the foreclosure process.

Nevada law allows for both judicial and non judicial foreclosures. If a lender pursues a foreclosure through the judicial system then the owner has a 1 year right of redemption following the foreclosure sale.

Some states also provide foreclosed borrowers with a redemption period after the foreclosure sale, during which they can buy back the home. However, Nevada law doesn't provide a redemption period following a nonjudicial foreclosure sale.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232