FORECLOSURE DEFENSE NEWS AND INFORMATION - Nevada

On February 12, 2009, the Las Vegas Sun reported what most Nevada already know - Nevada has the highest rate of foreclosures in the United States. Nevada again had the highest foreclosure rate in the nation in January and among the nation's metro areas, Las Vegas was No. 2 in the report issued by RealtyTrac of Irvine, California. The continued rise of unemployment makes it unlikely that the trend will improve in the near future. Indeed, the numbers for March already make it clear that the situation is getting worse.

Amidst all of the bad trends, the Las Vegas Sun's report gave homeowers some reason for hope: the increasing pressure on lending institutions to accommodate requests for mortgage modifications, short sales, and other tools that enable homowners to avoid the loss of their homes. The Sun resports:

Of course, many Nevada homeowners lack the resources to pay for private attorneys. For such homeowners, self help resources, such as those offered by http://www.StopForeclosureForms.com, offer their best hope to avoid the loss of their properties.

Because Nevada is a non-judicial foreclosure state, our most popular form for Nevada residents is our Nevada Complaint Against Lender to Stop Foreclosure.

The following information is intended to help you understand why a Nevada Complaint to Stop Foreclosure is essential for avoiding foreclosure:

What is "non-judicial foreclosure"? This type of foreclosure does not involve court action. When the deed of trust is initially signed, it typically will have a provision called a "power of sale clause," which allows a trustee to sell the property if a default occurs.

Why do I need a Complaint to Stop Foreclosure? Because Nevada lenders pursue foreclosure without first commencing a court case, homeowners need take the initiative to get the court involved. You do this by filing a complaint form with the court. The form is not particularly difficult. Our downloadable Nevada complaint form (in MSWord format) involves just three quick steps: (1) download (2) fill in the blanks & sign; (3) take it to court.

Will I actually stop the foreclosure process by downloading and filing the complaint? Because each situation and case is unique, nobody can guarantee that you will be successful in your case. However, Nevada non-judicial foreclosure remedies have stringent notice requirements, and the loan documents must contain specific power of sale language. If you don't file a complaint to stop foreclosure, you will face the certainty of losing your home. Many homeowners have succeeded in stopping foreclosures because lenders and trustees were unable to locate original loan documents. This is a common occurrence because so many loans were assigned and transferred between different financial institutions and loan service companies during the past several years. You can't protect your rights unless you file a form to stop foreclosure in court. In some instances, simply by filing the form, homeowners have been able to get the attention of lenders and begin serious negotiations for the first time.

Don't I need a Lawyer to do this? Most people who are facing foreclosure are unable to afford the huge legal fees that lawyers often charge. Thus, although it would be ideal for you to retain a private attorney, it is simply not a realistic option for many people facing foreclosure. Our forms kits are not substitutes for the services of a Nevada attorney or foreclosure consultant. We do not provide legal advice. We do not provide legal or consulting services. Rather, we seek to provide user-friendly forms, written in plain English, that homeowners can use to protect their rights.

SOME BASIC INFORMATION REGARDING THE FORECLOSURE TIMELINE IN NEVADA:

The foreclosure process can start any time after there is a default in payment. The foreclosure process begins when the services executes and records a Notice of Default, which must be sent to the homeowner by registered or certified mail. Depending on the language contained in the Deed of Trust, the borrower typically has between 15 and 35 days to cure their default. Because the entire foreclosure process can take as little as 120 days, it is essential for Nevada homeowners to take immediate action.