702-604-7739 - http://www.TheBallenGroup.com - Short Sale Nevada with The Ballen Group of Keller Williams Realty Las Vegas, Las Vegas Short Sale Specialists offering you a daily dose of short Sale Homes in Nevada, Short Sale Service Information, Short Sale Laws, The Foreclosure Process in Nevada, Short Sale VS. Foreclosure and More.
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| Get Your Free Las Vegas Short Sale Kit From The Ballen Group of Keller Williams Realty- Las Vegas |
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| | Get your FREE Las Vegas Short Sale Kit packed full of vital information pertaining to the Short Sale Process, Nevada Foreclosure, Pros and Cons, Hardship Package Information and more. 
SHORT SALES are an alternative to a foreclosure. When the borrower can no longer make the mortgage payments as agreed, he is faced with many decisions. One is to allow the lender to foreclose. Another is to get the lender to agree to accept a payoff of less than the balance owing on the loan. To understand short sales, one must first understand foreclosures. Nevada permits two types of foreclosure proceedings. They are the non-judicial foreclosure and the judicial foreclosure. Non-judicial means that the process is administered without court supervision. Judicial foreclosures are a more complicated, expensive and time-consuming route toward the same end. non-judicial foreclosure through the Deed of Trust, which contains a power of sale clause. The Deed of Trust is signed by the borrower at the time the loan is given. The power of sale clause provides the terms of any foreclosure action, identifies the trustee, specifies the timeline of the foreclosure process, and enumerates the powers of the trustee. To go forward with a non-judicial foreclosure, the lender must proceed according to the strict procedures and timeline of notifications and waiting periods. If all are carried out properly, the lender may take back the home and sell it to recoup the debt. By electing the non-judicial procedure, the lender agrees that the sale of the home will completely fulfill all obligations of the debt. To proceed with a judicial foreclosure, the lender must file for foreclosure in court, then record a notice of the pending lawsuit (lis pendens). After the defendants in the lawsuit have been served, they have an opportunity to answer the foreclosure complaint. A trial ensues and at the conclusion of the trial, a judgment for foreclosure is issued. After the judgment, the judicial sale (auction) process begins. The proceeds of the auction are used to reduce the debt and pay off penalties, costs and attorney fees. In some situations, the lender may also ask the court for a deficiency judgment against the borrower, which means that if the auction did not cover the amount owed plus all the associated costs, the lender can pursue the borrower for the additional amount. Whether the lender chooses to foreclose under non-judicial or judicial proceedings is an "either-or" situation. The lender can either use the non-judicial foreclosure or the judicial foreclosure, but not both. This is also referred to as the "one action rule" (NRS 40.430). Only one action may be taken for the recovery of any debt or enforcement of any right secured by a mortgage or other lien upon real property. WHAT IS A DEED-IN-LIEU OF FORECLOSURE? This is when the borrower transfers the real property title (deed) to the lender instead of the lender foreclosing and the lender accepts the deed in full satisfaction of the mortgage debt CALL 702-482-7739 FOR SHORT SALE HELP NOW! - LEAVE MESSAGE IF WE ARE ON THE PHONE WITH THE BANKS - CALL YOU BACK IN 15 MINUTES OR LESS. | |
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About The Ballen Group .
Lori Ballen and her husband Richard Ballen manage a top producing Las Vegas Real Estate Team at Keller Williams Realty Las Vegas on DI and Durango with Debbie Zois and Dave Jenks. As Las Vegas Short Sale Specialists, Lori and her team focus on distressed properties and residential real estate in Nevada.
Lori Ballen is a Mega Agent managing her team called The Ballen Group at Keller Williams Realty Las Vegas. Working with her 10 member team which includes her husband Richard, Lori has created a model for success. Using Gary Keller's Models, she never takes the pedal off lead generation which includes dominating search engines, working the database, managing he team web site, running daily ads, and staying on top of the most innovative marketing strategies such as her use of video. Using these tactics, The Ballen's earned awards in their short career such as rookies of the year AND top agents in the company their first year and many more top achievements in the years to follow.
The Ballen Group is an award winning team specializing in Distressed properties - specifically Las Vegas Short Sales as well as residential real estate in Las Vegas, North Las Vegas, and Henderson.