Is it legal in Nevada to place a home for sale that has already begun foreclosure proceedings to prevent loss?
Question : Is it legal in Nevada to place a home for sale that has already begun foreclosure proceedings to prevent loss?
To reiterate; a house-whose payments are not past due that is being foreclosed-on by a second lienholder who wants to protect their interest. If the current homeowner receives a notice of intent to foreclose – can they place the home for sale in order to prevent the home from being lost to the 2nd lienholder – as long as – if the home is sold – all liens have been satisfied?
It seems only fair and logical that selling the house would be allowed, but I’m curious if anyone has knowledge otherwise.
nevada homes for sale
Best answer:
Answer by frak1a12345
A second mortgage holder can not foreclose “to protect their interest” or otherwise unless the payments are late so your question makes no sense.
The house can be sold up to any point in the foreclosure process before the foreclosure sale.