Get Foreclosure Help From a Knowledgeable Lawyer
Foreclosure is the process by which a lender takes back the collateral on a loan (a house) if the debt is not serviced by the borrower. This process has multiple stages that are defined by specific laws, which vary from state to state. In some states, foreclosures have to go through the court system — these are called judicial foreclosures — while in other states a lender does not need a judge's approval to foreclose on a property. In Nevada, foreclosure is currently a non-judicial process, but foreclosing on a property usually takes several months to a couple of years.
If you are behind on your mortgage or you have gotten into excessive debt trying to stay current, we can help. At Randolph Law Firm, we utilize several methods to help our Las Vegas clients avoid foreclosure. Contact us now for a free consultation about your situation.
Foreclosure is frightening, but it is often misunderstood and mythologized. Consider these important facts about what foreclosure is and is not:
- Foreclosure is a long process: Foreclosure is a process, not an event. In order to actually lose your house to foreclosure, you have to be at least a few months behind on your mortgage, and your lender has to go through a lengthy process that culminates in the sale of the property or the return of the property to the lender.
- Nobody can take your house until after a foreclosure sale has occurred: Many homeowners who are late on their payments are afraid that someone will come and evict them from their homes, lock their doors or take their belongings. In reality, your house is yours unless and until a foreclosure process has fully run its course, and that process can take years.
- Foreclosure is not the same as defaulting on your mortgage payments: Even if you are many months behind on your mortgage, and even if your lender has sent you a default notice, that does not mean that you have been "foreclosed on." The foreclosure process may have started with that notice of default, but that does not mean there isn't an opportunity to keep the house.
Contact a Nevada Judicial Foreclosure Attorney for Advice About Your Mortgage
At Randolph Law Firm, we understand judicial and non-judicial foreclosure actions, including court-ordered foreclosure that some lenders may choose to use increasingly in the future.
More importantly, we know how to help you get relief if you are facing the stress of mortgage and debt problems. Contact us for a free consultation.