Legal Question in Bankruptcy in Nevada

I am considering a chapter 7 bankruptcy. I am divorced but retain title on a property which my ex-wife lives. There is a loan modification in place on the existing 1st mortgage that is in both of our names.There is also a 2nd mortgage which is in my name only and not included in the loan modification with the same lender. This mortgage is not included in the loan modification. If i file the Chapter 7 and include the 2md mortgage will it trigger a foreclosure with the lender?


Asked on 6/09/11, 5:50 am

1 Answer from Attorneys
Dorothy Bunce

Fililng bankruptcy will not trigger a foreclosure sale. Nevada foreclosure law requires that a loan be delinquent in order to begin a foreclosure.

I would urge you to watch my video about Nevada foreclosure law & I will put the link at the end of my answer. However, because you are trying to make a decision about this without legal advice, you may have other options you haven't considered.

I would be happy to offer you an initial consultation at no charge to review your options.

In the meantime, hope you enjoy the videos on Nevada Foreclosure laws.

Nevada Foreclosure part 1 http://www.youtube.com/watch?v=J5GUpKo59Ww

Nevada Foreclosure part 2 http://www.youtube.com/watch?v=P8ymcnjHP3g

Read more
Answered on 6/09/11, 8:20 am


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