The rest of the content of Joseph Ross's answer is correct,Customer
You could file a case in District Court asking for a temporary restraining order to stop the foreclosure process based on the "inequitable conduct" of the lender, but it would most likely only delay the foreclosure for a month or three. Here's why.
The entire process from Notice of Default to accomplishment of the foreclosure sale in Nevada takes about four months. During that time, interest, publication costs, and attorney's fees (all payable by the debtor) pile up. It's better to get the house OUT of foreclosure sooner rather than later. So, you have some time to fix this but it's better to fix it sooner rather than later.
Nevada foreclosure law is fairly strict regarding the debtor's obligation of payment to stop a foreclosure. That's what the Notice of Default is for.
Even though the NOD
is supposed to be sent by certified mail, sending it, alone, satisfies the requirement. If someone at your house threw away the little note left in the mailbox and the certified letter was returned unclaimed, that's not a reason-by itself- to invalidate the Notice of Default.
However, if you can PROVE that you could have cured the default within 35 days of the recording of the Notice of Default with the Clark County Recorder's Office (that's allowed under NRS 107.080), then a defect in notice of the NOD *could* result in a stay of the foreclosure proceedings now (late), so you could pay off the arrears and stop the foreclosure process. An acceptable defect in service would be sending the NOD to you at something OTHER than your "last known address" (NRS 107.080 (3)), which must be correctly stated on the envelope. Wrong address, wrong zip code
, or other problems that delay or defeat delivery, would usually do.
The next problem is that many Deeds of Trust allow the creditor to declare the entire amount of the loan due. That puts the debtor in the position of needing to get a quick re-finance to come up with the funds to pay the whole thing off, plus all those costs accrued.
There is some more in-depth information available from Governor Gibbons' office at http://foreclosurehelp.nv.gov/
There is also some half-biased information on bankruptcy vs. foreclosure at http://www.realtytrac.com/foreclosure/stop-avoid/truth-about-bankruptcy-foreclosure.html
. The cautions there and pessimistic outlook are based primarily on the fact that most people facing foreclosure cannot bring themselves CURRENT on the payment obligations for the house in foreclosure, even after getting relief from the credit card and other dischargeable debts.