When you purchased your property, you gave the lender a promissory note to pay back a specific sum of money. If you later defaulted on your loan, a foreclosure proceeding may have occurred. At a foreclosure sale, hopefully someone will buy the property and pay the bank enough money to fully satisfy your debt. Unfortunately, in today’s market, this does not happen very often. When the lender does not get paid in full, a deficiency is created.
Nevada law is very specific as to how to either pursue or defend against deficiency claims. I have represented both debtors and creditors in these situations. The window of opportunity (or defense) in these matters in Nevada is relatively short. Let me assist you in pursuing or defending against such claims.
