What is a Notice Of Default in Foreclosure

stopping a foreclosure
stopping a foreclosure

What is a foreclosure notice?  

A foreclosure notice or notice of default is a document that basically states that the lender has filed a report stating you have not made payments.  This is the file that will enable the lender to order the beginning of the foreclosure process.

The Notice of Default, once filed by the lender, will be published to the county and state records on where you live in.  Anybody who has an interest on the home, such as contractors who are owed money for the work done the the property, the mortgage lenders either you have one or two, will get a copy of the notice of default.

Basically, everyone will have access to this notice and is published for all to see.  Although this could be embarrassing to anyone who goes through the foreclosure process, this is how the process is.

Here are some very important steps that should be taken once a notice of default at your Las Vegas and Henderson home is filed.  And before I share with you the steps, anyone with a notice of default must understand that sometimes people are being foreclosed on without any warning.  Homeowners are being kicked out of their property without warning.  The notice of default is a critical step within the foreclosure process, in the end its still a warning that you need to make your payments and keep the property current.  So here are a few steps on what you should do if you receive a notice of default.

First, try and stay calm and don’t panic.  I understand that that doesn’t make any sense but you have to understand that the notice of default is just a notice that if you don’t do anything, the bank will then move forward with the foreclosure.  In Las Vegas, Nv, once a notice of default is received or filed, the homeowner has 60 days to pay the missed payments and keep the property current.  So yeah, you have 60 days!

Second, is to educate yourself in the foreclosure process.  Learn everything about the notice of default and foreclosures in Las Vegas Nevada.  Gather information and resources that is needed to save your home and your name from a foreclosure if you goal is to keep the property.  

Third, know your options.  Our company, Bold Offers is here to help you avoid foreclosure.  We buy houses and we pay cash.  We have different options to help you save your name from a foreclosure, buy you some more time, and possible put cash in your pocket for a fresh start.  There are so many options for you out there.  We are here to help you find them.  There is not one solution to the problem since every situation is different.

Fourth is to communicate with the bank.  Set an appointment with the bank involved in the property and see your options with them.  Usually, they will offer a loan modification but this is difficult sometimes because situations are different for everyone.  A loan modification is usually your first option if you want to save your home from a foreclosure.  If a loan modification doesn’t work, let us know, we will find a solution together!

Finally, reach out to us.  We are connected with many different sources that will be able to help you with your situation.  We won’t know how to help you or what options to provide you until we know your exact position.  Sometimes, selling your home might be the best option.  As much as I hate that option, we see that many people in foreclosure situation only has one option, to sell their home and start over again.

We are a acquisition company, our goal is to stop banks from foreclosing on homes in Nevada.  We buy houses cash, we pay all fees, you get money in your pocket to start over again, we buy you more time, and we help you get back on your feet within due time.