Have you missed your first house payment?
Your finances have probably been worsened due to an increase in your mortgage payment, job loss or lowered wages, separation or divorce, medical bills, or maybe another reason.
Are your credit card limits nearly maxed?
Are you breaking out credit cards to fund your groceries?
Is it increasingly more difficult to make your monthly bills?
If it’s becoming harder to make your house payment each month:
Contact a Realtor to Short Sale your Las Vegas Home, or
People don’t usually think foreclosure will actually happen. Ignoring it will NOT make it go away.
A Typical Foreclosure Process – Note: Timeline varies by state.
First month missed payment – you will hear from your lender
- You may want to investigate the Short Sale Process
Second month missed payment – your mortgage holder will probably call you to find out where your payment is.Answer their calls. Talk to your bank and detail your hardship and what you are trying to do to better your situation. If possible make one payment to prevent yourself from falling 90 days behind.
- See your accountant, attorney, and/or Realtor about Las Vegas short Sale Options
Third month missed payment Your lender will send a Demand Letter or Notice to Accelerate letter detailing how much you are behind, and you must bring your mortgage current within 30 days. If a payment arrangement is not made , your bank will probably begin Nevada foreclosure proceedings. They may not accept less than the full amount at this time. You still have time to communicate with your lender and try to come to a resolution.
- A short Sale May Be your Option
Fourth month missed payment – You are running out of time. After the 30 day date specified in your letter, if you have not completed the payment in the full amount or worked out arrangements with the bank – your case will be referred to the lender’s attorneys. You will incur all attorney fees as part of your delinquency.
Sheriff’s/Public Trustee’s Sale – A Sale date is scheduled. This is the real day of foreclosure. You may receive a notice of the sale date in the mail. A notice will be placed on your door, and the sale may be posted in the local paper. BEFORE this sale date, if you want to stay in your home, you will need to be working on avoiding the foreclosure by making arrangements with your lender, or paying the total amount owed, including attorney fees.
Redemption Period – post sale date, there may be a redemption period. You will be notified of the details on the notice that Nevada uses for the Sheriff’s or Trustee’s Sale.
Important: If you know arrangements are not going to be made, and would like to unload your oversized mortgage without having a Nevada Foreclosure on your record – Contact Lori Ballen Wekerle and her team of Experts of Coldwell Banker Wardley to discuss Las Vegas Short Sale Help. Lori's Team may be able to negotiate on your behalf to accept a “short” amount on your mortgage payoff. You would still lose your home, but without the Nevada Foreclosure nightmare. If the terms are not agreeable to you once the short sale terms are sent from the bank, you may still opt for the foreclosure vs. the short sale. If nothing else, a Short Sale can probably buy you more time IN your home so you can prepare for your future.
Call 702-482-7739 or send an e-mail to schedule your NO COST – NO OBLIGATION consultation. FREE LAS VEGAS SHORT SALE KIT offered to you for simply requesting one. Call or Click Now
Las Vegas Short Sale Specialist, Henderson Short Sale Specialist, North Las Vegas Short Sale Specialist. Specializing in Short Sales in Nevada - Desert Shores Short Sale, Nellis Short Sale, Summerlin short Sale, Mountains Edge Short Sale, Southern Highlands Short Sale, The Lakes Short Sales, Aliante Short Sales, Sun City Short Sales, Silverstone Ranch short Sales, Luxury Short Sales