 jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
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 Posted: Wed Sep 23, 2009 11:22 pm Post subject: |
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Hi unclebuck,
As far as I know, Nevada homestead laws protect the equity in your home upto a limit of $350,000 from unpaid medical bills, bankruptcy, credit card debts, business/personal loans etc. However, the laws do not protect your home from liens placed due to debts secured by a mortgage or deed of trust, payment of taxes, IRS lien, mechanic's lien etc. Thus, I believe your lender can put a lien on your second home. But you do not have to pay it until you sell off the property. |
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