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foreclosure

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debra Joined: 10 Jun 2010 Posts: 2 1.67 Dollars($)	Posted: Thu Jun 10, 2010 9:50 am    Post subject: foreclosure Like 0 Dislike 0 I received a notice of breach and default notice and in addition the notice states you are in danger of losing your home and your home is being foreclosed. thi was posted to our gate and we have not received anything via email. This notice is not signed nor does it have a notary or actual date on it. My sources tell me that this is a preliminary notice the bank does to advise you of default and when I check with County records, I am still showing as the owner of property. how do I know if the bank is filing a judicial or non-judicial foreclosure? (state of Nevada)
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Jun 10, 2010 11:02 pm    Post subject: Like 0 Dislike 0 Hi Debra! Welcome to forums! If the lender decides to foreclose your property, he will send you a pre-foreclosure notice for the same. When you receive the notice, you can take steps to avoid foreclosure. If you do not take any steps to stop foreclosure, the lender will go ahead and sell off the property to recover his dues. The lender will be the best to let you know if they are filing a judicial or non-judicial foreclosure. Feel free to ask if you've further queries. Sussane
debra fields Guest	Posted: Thu Jun 17, 2010 8:44 am    Post subject: Like 0 Dislike 0 Hello, Does the foreclose notice have to be issued via certified mail? as we got a notice taped to our gate but does not have any dates on it and and it looks as if its a intent to cure notice rather than a formal foreclosure notice. My deed states power of sale which would mean that they will file a non-judicial foreclousre. Once I do receive a formal foreclosure notice, can I file for a mediation? Lastly if we don't file for a mediation do we have 60 or 90 days to vacate? Thanks again.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Jun 18, 2010 12:08 am    Post subject: Like 0 Dislike 0 Hi debra! Welcome to forums! Normally lenders send a pre-foreclosure notice to the borrowers through a certified mail. As you've received a notice regarding intent to cure, you should get in touch with your lender and check out whether or not he would be able to offer you an affordable payment plan to pay off the dues. If you do not take any steps to pay off the dues after receiving the notice, then the lender will go ahead and foreclose your property. After the foreclosure sale is over, the lender will send you a notice to vacate the property. The time period to vacate the property will be mentioned in the notice. Feel free to ask if you've further queries. Sussane

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