I just received a Notice of foreclosure. How Long Until I’m Evicted?
It’s a common reaction to easily panic after receiving the first, or several notices threatening a foreclosure. However, in reality, homeowners usually have plenty of time, as well as options available to them before they must resort to having their home foreclosed on.
To ease any worry regarding eviction, it’s important to know your rights as a homeowner going through a foreclosure. When experiencing a foreclosure, the homeowner has the right to reinstate their ownership of the property at any time throughout the foreclosure process, up until 5 days prior to the sale of the home. Because foreclosures can last anywhere between many months, to even years, this affords the homeowner time to consider all available options in avoiding the foreclosure.
Though you may have plenty of time before potentially losing your home to foreclosure, you may not have a lot of time in terms of taking steps towards avoiding the foreclosure. It is best to always reach out to an experienced foreclosure defense attorney as early in the foreclosure or pre-foreclosure process as possible. The sooner you react, the more options are generally available to you.
When looking for alternatives to foreclosure, Nevada citizens have the opportunity to elect for the Nevada Foreclosure Mediation Program. Read more in our blog “What is the Nevada Foreclosure Mediation Program and How Can It Benefit Me?” Nevada Foreclosure law automatically grants the homeowner 120 days after their first missed payment as a grace period to allow the homeowner to seek help in avoiding the foreclosure. The foreclosure process cannot move forward in Nevada until those 120 days have expired. Even after a foreclosure has begun through the issuing of a Notice of Default, the Nevada Foreclosure procedure still requires another 90 days before the lender can begin arrangements for the sale or auction of the home. A homeowner is eligible for the Nevada Foreclosure Mediation Program at either of these points before, or after the Notice of Default.
If you’ve recently been issued a Notice of Default, or are behind on your mortgage payments, it’s never too early to begin the process of looking for alternatives to foreclosure. To discuss your particular situation and the options available to you, please do not hesitate to schedule a consultation with our team. To contact our office, reach us at (702) 998-1188, info@ljlawlv.com, or by scheduling a consultation online.
For additional resources on alternatives to foreclosure, the Nevada Foreclosure Mediation Program, or a variety of other Foreclosure Defense related questions, please check out our Foreclosure Defense blog, or Foreclosure Defense TV playlist on Youtube.