Nevada Foreclosure Process

Nevada Foreclosure Process

Approximately 5 months
Notice of Default   Trustee Sale Notice Trustee
Recorded & Mailed 36thday   (Published & Mailed) Sale
Month 1   Month2          Month 3 Month 4  
Reinstatement Period Redemption Period Publication Period Final 
Starts 35 day period Starts on 36th day Final 21 days Eviction
<----------------------------------3 Month Period----------------------------->    
To Reinstate: Pay To Redeem: PAY Prior to Trustee's Sale Home
Back Payments Entire Loan Amount Sell home/Save equity is 
Allowable Expenses Allowable Expenses File  for Bankruptcy Sold 
Trustee Fees Trustee Fees Pay entire loan No
      Redemption
 

Summary:

 

MISSED PREVIOUS MONTHLY PAYMENTS: Beneficiary notifies the Trustee to start a foreclosure.

 

NOTICE OF DEFAULT: is prepared, recorded, published, posted and mailed to all concerned parties. Trustor has 35 days from the mailing of the notice to reinstate the loan including all expenses.

 

36TH DAY: Once the reinstatement period has expires on the 35th day, the Trustee enters the second phase of the foreclosure process and the entire amount of the loan is due.

 

NOTICE OF TRUSTEE SALE:  Approximately 10 days before the three months has expired, the Trustee will begin publication of the Notice of Trustee Sale for three consecutive weeks and posted in two public places giving notice to Trustee their home is going to sale.

 

TRUSTEE SALE: is held on the exact day stated in the Notice of Trustee Sale. The sale deprives the homeowner of all rights, title and interest in the property.

If there are not bidders at the Trustee Sale, the property reverts to the lender as an REO.

If there is a successful bidder, that person becomes the new owner and has immediate rights to the property.

In the event that occupants refuse to move, they can be evicted through legal action.

 

FINAL EVICTION: The homeowner will be evicted from the property by law. There is no right of redemption.

 
 Please feel free to call, text or email me with any real estate needs. 
 

Shirley Brass
2200 Paseo Verde Pkwy., Suite #160

Henderson, NV 89052
702 592-8207

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Contact Information

Photo of Shirley Brass Real Estate Professional/Sales Real Estate
Shirley Brass Real Estate Professional/Sales
Keller Williams Southern Nevada
Henderson/Las Vegas NV
702-592-8207
Fax: 702-777-9811