Stop Foreclosure in Nevada


How to Stop Foreclosure in Nevada

If you have missed quite a lot of payments in your mortgage in the state of Nevada, then your lender has every right to foreclose your home and auction it to anyone that can pay for it. However, by working hand in hand with your lender, you can avoid such problems and keep your house.

  • Step 1
    Contact your lender or broker as soon as possible if you are going to miss out on a payment. The farther behind you are in your payments, the harder it will be for you to reinstate your loan.
  • Step 2
    You can choose to sell other assets that you seldom use such as a car that is just wasting away in the garage or jewelry that you never get to wear. This way, you can avoid missing your mortgage payments and it would be easier for you to reinstate your loans. This way, you can avoid foreclosure of you house and property.
  • Step 3
    Filinf an “intent to cure” with your local Public Trustee’s office can help you become current with your missed fees. This must be filed 15 days before the foreclosure sale of your property.
  • Step 4
    Contact the local housing authority in your area and inquire for other state and federal programs that can help you stop the foreclosure. They have lots of programs that can help homeowners with their mortgage especially when they are facing financial problems.

Synopsis of Nevada Foreclosure Laws

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: Yes

Primary Security Instruments: Deed of Trust, Mortgage

Timeline: Typically 120 days

Right of Redemption: Yes

Deficiency Judgments Allowed: Yes

In Nevada, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder.

The borrower has one year (12 months) after the foreclosure sale to redeem the property if the judicial foreclosure process is used.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

  1. Beginning on the day after the notice of default and election was recorded with the county and mailed to the borrower, the borrower has anywhere from fifteen (15) to thirty five (35) days to cure the default by paying the delinquent amount on the loan. The actual amount of time given is dependent on the date of the original deed of trust.
  2. The owner of the property may stop the foreclosure proceedings by filing an “Intent to Cure” with the Public Trustee’s office at least fifteen (15) days prior to the foreclosure sale and then paying the necessary amount to bring the loan current by noon the day before the foreclosure sale is scheduled.
  3. The foreclosure sale itself will be held at the place, the time and on the date stated in the notice of default and election and must be conducted in the same manner as for an execution sale of real property.

Lenders have three (3) months after the sale to try and obtain a deficiency judgment. Borrowers have no rights of redemption.

Where to go to for Foreclosure Help

Las Vegas Field Office

Dept. of Housing and Urban Development
300 South Las Vegas Blvd.,
Suite 2900
Las Vegas, NV 89101-5833

Phone: (702) 366-2100
Fax: (702) 388-6244

Kenneth J. LoBene
Field Office Director

Office Hours: 8:00 a.m. to 4:30 p.m.
Monday through Friday

Reno Field Office

U.S. Department of Housing and Urban Development
Reno Field Office
745 West Moana Lane, Suite 360
Reno, NV 89509

Phone: (775) 824-3700
Fax: (775) 824-4978

Tony Ramirez
Field Office Director

Office Hours: 8:00 a.m. to 4:30 p.m.
Monday through Friday

Stop Foreclosure Early

Nevada Loan Source, Inc.
4821 Purple Sage Court
Carson City, NV

US Express Mortgage Corp., NV
375 E. Warm Springs Rd., Ste. 100
Las Vegas, NV

US Express Mortgage Corp.,NV,VA100%&Conv95%Fixed
375 E. Warm Springs Road., Ste. 100
Las Vegas, NV

Bank of America – Southern Highlands
4840 West Cactus Ave
Las Vegas, NV

US Bank – West Charleston NV Office
(702) 258-9990
2820 W Charleston Blvd
Las Vegas, NV

Monarch Mortgage
1301 N. McCarran, Suite 102
Sparks, NV

Aryans Inc. D.B.A. The Bank Office
(702) 989-9919
10120 S. Eastern Ave. #200
Henerson, NV

Direct Access Lending – Eli Mizrachi
8751 W. Charleston Blvd #210
Las Vegas, NV


US Bank – Marcello Marketplace Office
(702) 636-8031
2420 N Rancho Dr
North Las Vegas, NV