Deficiency Balances in Nevada
Posted: Sun Jun 06, 2010 5:26 pm
Check out NRS 40.455. Deficiency judgments are allowed in Nevada unless debtor was using the single-family dwelling as principal residence prior to foreclosure, and the loan was purchase money. Otherwise, lender has 6 months after foreclosure to apply for deficiency judgment.
Steven L. Bryson
Attorney at Law
(310) 477-4555
Certified Bankruptcy Specialist
www.file4bankruptcy.com
To: cdcbaa@yahoogroups.com
Sent: Sun, Jun 6, 2010 2:31 pm
Subject: [cdcbaa] Re: Deficiency Balances in Nevada
Dana:
everything I can find on Nevada Foreclosures says Nevada allows deficiencies.
dennis
>
> Does anyone know the quick answer to whether a mortgagee (purchase money loan) in Nevada can pursue recovery (from original borrower) of a deficiency balance after foreclosure sale? Borrower is in CA but property was in Nevada.
>
Check out NRS 40.455. Deficiency judgments are allowed in Nevada unless debtor was using the single-family dwelling as principal residence prior to foreclosure, and the loan was purchase money. Otherwise, lender has 6 months after foreclosure to apply for deficiency judgment.
Steven L. Bryson
Attorney at Law
(310) 477-4555
Certified Bankruptcy Specialist
www.file4bankruptcy.com
-----Original Message-----
To: cdcbaa@yahoogroups.com
Sent: Sun, Jun 6, 2010 2:31 pm
Subject: [cdcbaa] Re: Deficiency Balances in Nevada
Dana:
everything I can find on Nevada Foreclosures says Nevada allows deficiencies.
dennis
a>, Dana Douglas <foxygoldenlady@...> wrote:
>
> Does anyone know the quick answer to whether a mortgagee (purchase money loan) in Nevada can pursue recovery (from original borrower) of a deficiency balance after foreclosure sale? Borrower is in CA but property was in Nevada.
>
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