Josh Talayka | June 3, 2011
Although a foreclosure may be done outside of court, the lender must still adhere to very specific procedures and timeframes that are defined by law. Once all the timeframes and requirements above have been met, the lender may carry out their foreclosure sale (Trustee’s Sale). Following the foreclosure, the lender may still be able to sue the borrower for any deficiency in the amount received from the trustee’s sale.
Category: Credit, Foreclosure Mediation Program, Loan Modification Series, Short Sale & Foreclosures, Tax |
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Tags: Chase International, Credit, Deed-in-Lieu, Deficiency, Foreclosure, foreclosure options, foreclosure timeframe, Judicial, lis pendes, Modification, Nevada, NOD, non-judicial, NOS, Notice of Default, notice of sale, NV, Real Estate, reinstatement, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | February 22, 2011
When making the decision to walk away from your home (whether a strategic walk-away or hardship), the first question always asked is; why bother going thru a short sale, rather than just letting the bank foreclose? Although to most a short sale may be the obvious choice, the answer may vary depending on a person’s individual circumstance. However before making the decision, you should always take into account all the future ramifications of your decision. Here is a simple comparison chart of the different ways a foreclosure vs. a short sale will affect you in the years following your decision:
Category: Short Sale & Foreclosures |
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Tags: Chase International, Credit, deficiency judgment, Employment, Fannie Mae, Foreclosure, mortgage, Nevada, NV, Real Estate, reno, Security Clearance, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | February 17, 2010
In the state of Nevada, it has been possible for a borrower to receive a deficiency judgment even after they’ve already lost their home to foreclosure. Effective October 1, 2009 Assembly Bill No. 471 addresses this issue by limiting who may be awarded a deficiency judgment relating to real property.
Category: Short Sale & Foreclosures |
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Tags: AB 471, AB471, Assembly Bill 471, Chase International, Credit, deficiency judgment, Foreclosure, Nevada, NV, Real Estate, reno, Talayka, www.sellingnorthernnv.com
