Foreclosure is the process by which a lender takes back the collateral on a loan (a house) if the debt is not serviced by the borrower. This process has multiple stages that are defined by specific laws, which vary from state to state. In some states, foreclosures have to go through the court system — these are called judicial foreclosures — while in other states a lender does not need a judge’s approval to foreclose on a property. In Nevada, foreclosure is currently a non-judicial process, but foreclosing on a property usually takes several months to a couple of years.
If you are behind on your mortgage or you have gotten into excessive debt trying to stay current, we can help. At Randolph Law Firm, we utilize several methods to help our Las Vegas clients avoid foreclosure. Contact us now for a free consultation about your situation.
Foreclosure is frightening, but it is often misunderstood and mythologized. Consider these important facts about what foreclosure is and is not:
At Randolph Law Firm, we understand judicial and non-judicial foreclosure actions, including court-ordered foreclosure that some lenders may choose to use increasingly in the future.
More importantly, we know how to help you get relief if you are facing the stress of mortgage and debt problems. Contact us for a free consultation.
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