Home Foreclosure – Protect Your Home

With the recent downturn in the economy, home foreclosures are on the rise. Nevada has one of the highest foreclosure rates in the country.

Many home foreclosures occur because people are terrified and they allow their fear to result in inaction. Bankruptcy can stop home foreclosure and allow you the opportunity to save your home. Take action by contacting an experienced Nevada Bankruptcy Attorney at the Law Office of Rodney K. Okano. Based in Las Vegas, we represent clients throughout Southern Nevada.

The Home Foreclosure Process in Nevada

In the State of Nevada, a foreclosure is commenced by the lender filing and sending the borrower a Notice of Default. After filing such notice the Lender must wait for 3 months. After 3 months, the lender may file and give notice to the borrower of the sale date of the property. The proceeds from the sale are applied to the existing mortgages. The lender may then seek recovery against the borrower for any debt left unpaid.

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Is Bankruptcy the Answer?

For many people, the answer is yes. There are many bankruptcy options. Bankruptcy can stop the foreclosure sale and under Chapter 13, a plan can be structured to save the home for the long term.

Nevada Chapter 13 Bankruptcy Attorney

If you are behind on your payments and you do not have the ability to pay your mortgage arrears (past due home loan payments) immediately, we can help. We can file for Chapter 13 Bankruptcy on your behalf and create a three to five year plan to pay your mortgage arrears gradually over time. With a Chapter 13 Bankruptcy, you pay no interest on your arrears. We can use a Chapter 13 Bankruptcy to eliminate your 2nd and 3rd mortgages.

If your home or rental property is too far underwater, eliminating the mortgage debt in Bankruptcy may be your best option. This is especially true when there are other debt problems that make filing for Bankruptcy the obvious choice.

It Is Not Too Late

Do not assume that it is too late for action. Our firm has helped many people who thought it was too late to stop a home foreclosure. Even if you have defaulted on your loan and received a Notice of Default or Notice of Sale, we are here to help. If your home has been scheduled for sale and the sale is just a few days away, we may still be able to help. Contact us immediately. The more time you have to prepare for Bankruptcy, the better your case is going to be, and the you’ll be able to enjoy life after bankruptcy.

Contact Us

We offer a free consultation to discuss your legal rights and options. To schedule an appointment with a Las Vegas NV Bankruptcy Lawyer at our firm, call (702) 566-3600, or contact us by using our contact form.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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