Where are Foreclosure Notices/Information Published?
The foreclosure process in Nevada consists of a series of warnings and notices, each with their own delivery requirements. Because most residential foreclosures in Nevada are considered non-judicial, a lender can proceed with a foreclosure without needing a court hearing. This means that the combination of letters, notices, and potential phone calls or emails is the only legal procedure standing between keeping and losing your home to foreclosure. For this reason, it’s important to know where to expect any and all notice(s) of foreclosure.
Late payment notices
What is it: Following your first and/or second missed mortgage payments, you will likely hear from your lender by phone, email, or letter by mail notifying you of the late payment and, if applicable, any fees associated with the delay in payment. If you’re payments still remain unpaid around or beyond 100 days, you’ll likely also start receiving information on loss mitigation to discuss alternatives to foreclosure.
How is it delivered/published: At this point, communications from the lender are informal and merely a means of attempting to collect on missed payments. You can expect to hear from the lender via mail, phone, and any other means of contact they have on file.
What is it: Under federal law, if the lender has not received payment by 120 days since the first missed payment, they are legally able to begin the foreclosure process. This begins with a Pre-foreclosure Notice that will clearly state the warning of impending foreclosure, the amount needed to cure the default, and additional information on foreclosure avoidance.
How is it delivered/published: The Pre-foreclosure Notice is recorded with the county recorder and mailed to the homeowners address.
Notice of Default and Election to Sell
What is it: The Notice of Default and Election to Sell is the notice that communicates the official start of a foreclosure process. It will explain to the homeowner that they have 90 days to resolve the remaining debt on the property in order to stop the foreclosure.
How is it delivered/published: The Notice of Default is to be published in each of the following ways:
- Posted to the property. This is usually done with a recognizable blue colored tape.
- Mailed to the homeowner and each person listed on the mortgage as a responsible party.
What is it: The homeowner will receive a Danger Notice if they still do not resolve their balance after the 90 days following a Notice of Default. This notice simply states that the homeowner is in danger of losing their home to foreclosure. It will also include the original promissory note that was signed by the homeowner at the time of the purchase of the home.
How is it delivered/published: The Danger Notice is to be personally served to the homeowner at their residence. If the borrower themselves is not present, it is to be left with an individual residing at the property, may be posted in a noticeable spot on the property, and a copy is to be mailed to the residence.
Notice of Sale
What is it: The homeowner and all tenants will receive this notice which includes a date, no sooner than 20 days from the date of notice, on which the property is projected to be sold.
How is it delivered/published: The Notice of Sale is to be published in each of the following ways:
- Sent by certified mail or personal service to the homeowner’s address at least 20 days prior to the projected sale date
- Posted in a clearly visible place on the property at least 15 days before the projected sale date
- Posted for 20 consecutive days in a public space within the county of the property prior to the sale of the home
- Published in a newspaper of general circulation once per week for 3 consecutive weeks prior to the sale of the home
If you are concerned about an impending foreclosure, or worry you may face foreclosure in the future, be sure to consult an experienced foreclosure defense attorney as early in the process as possible. To discuss your specific situation with our team, do not hesitate to contact our office to schedule a consultation. Our office can be reached at (702) 998-1188, email@example.com, or by scheduling a consultation online.