How does the Nevada Homeowner’s Bill of Rights work?

TimelineI’m not an attorney and neither is my brokerage. The following information is not legal advice. All parties are advised to seek legal counsel before any action.

Thanks to the Incline Law Group for handing out the Nevada Home Owner’s Bill of Rights (SB321) timeline and for the Reno/Sparks Association of Realtors for holding so many meetings on the subject.

To the right you’ll find the timeline that must be kept by both home owner and lien holder/servicer/bank. Essentially, the bank must contact the home owner prior to filing a notice of default and starting the foreclosure process. Should the home owner not respond, not respond correctly, or in a timely manner throughout the process the bank can start foreclosure.

More than ever before, I believe, it’s imperative for home owners facing default to speak with an attorney or legal counsel. Home owners have once chance at foreclosure alternatives and as you can see in the timeline… the process is very complicated.

If you need names of attorneys that can help contact me at (775) 750-1437 or Ricky@Resnv.com. You can also contact the Incline Law Group, creator of the timeline, at (775) 831-3666.

Posted in For Sellers, News, Short Sales/Foreclosure and tagged , , , .

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