Nevada deficiency judgments after non-judicial foreclosure:
Correct Answer
C) Are prohibited for owner-occupied homes
Nevada generally prohibits deficiency judgments for owner-occupied residential properties after non-judicial foreclosure.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
A trustee sale is a type of foreclosure where a trustee, appointed under a deed of trust, sells the property at auction to satisfy the debt.
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