SB321 no longer allows the foreclosure process to continue while an application for a foreclosure prevention alternative is pending or while the borrower is current on his or her obligation under a foreclosure prevention alternative. The foreclosure alternative, which could include a short sale, must have ended before the lender can continue the foreclosure process. In the past, homeowners have experienced surprise foreclosures the day before their short sale was set to close escrow. Under the new law, that would no longer be allowed. SB 321 has passed and is awaiting signature by the Nevada Governor. Tweet 0 Email PrintReport Delinda Crampton,...
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