Legal Question in Credit and Debt Law in Nevada
Homestead ACT
What does the Nevada Homestaed Act protect the homeowner who is registered under the act, from?
Can I lose my house because I had a heart attack, uninsured, and can't pay the bill? Can they put a lien on it preventing me from refinancing? Lawyer is threatening suit, to force sale of house for debt. Please tell me all ramifications!
1 Answer from Attorneys
Re: Homestead ACT
The homestead law allows you to keep $350,000 of equity and your house cannot be sold by the sheriff until there is that much equity. Furthermore, the hospital cannot ever force you to sell the house, they can only lien it and get paid after you died or when you sold the house.
They can put a lien on to prevent a refinance because title will require the lien to be paid. If you refinance for only a lower rate and not take any money out, I could get a court order to allow that.
You may want to think about hiring a lawyer to defend the case because a lawyer can get a reduction in the medical bills and do other things if necessary.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
