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Homestead in Nevada

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unclebuck48 Joined: 09 Sep 2009 Posts: 27 9.10 Dollars($)	Posted: Wed Sep 23, 2009 8:30 pm    Post subject: Homestead in Nevada Like 0 Dislike 0 My 2nd home has been homesteaded a while back, if I lose my rental property can the mortgage co. put a lien on my current home for the deficiency even with it being homesteaded?
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Wed Sep 23, 2009 11:22 pm    Post subject: Like 0 Dislike 0 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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