How Much Will A Lawyer Cost Me?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
3y ago
How much will a lawyer cost you? I get this question quite a lot by people calling into the office, asking for my fees in relation to the services that they are inquiring about. This is a reasonable question for anybody to ask who is experiencing legal issues and needs to hire an attorney. Unfortunately, there is no one sticker price for this answer, and the answer can vary from one extreme to the other. IT DEPENDS ON YOUR CASE. It depends on the complexity of your case, on whether or not the attorney is billing by the hour or is doing a flat-fee rate. Those combinations of things can determi ..read more
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I just received a Notice of foreclosure. How Long Until I’m Evicted?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
4y ago
It’s a common reaction to easily panic after receiving the first, or several notices threatening a foreclosure. However, in reality, homeowners usually have plenty of time, as well as options available to them before they must resort to having their home foreclosed on. To ease any worry regarding eviction, it’s important to know your rights as a homeowner going through a foreclosure. When experiencing a foreclosure, the homeowner has the right to reinstate their ownership of the property at any time throughout the foreclosure process, up until 5 days prior to the sale of the home. Because fore ..read more
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Foreclosure Mediation Now Available Prior to Defaulting on Mortgage
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
4y ago
When experiencing a financial hardship, the most devastating turning point can sometimes be losing one’s home to foreclosure. The state of Nevada has taken steps to try to limit the amount of homes that inevitably enter foreclosure. In 2009, Nevada adopted the Foreclosure Mediation Program as a free, completely optional program that allows Nevada homeowners the ability to negotiate alternatives to foreclosure with their mortgage lender. Since its adoption, the Foreclosure Mediation Program was only available to those homeowners whom have received a Notice of Default (NOD) on their loan, and in ..read more
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Can The Lender Garnish Wages in a Foreclosure?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
4y ago
A mortgage loan is a secured debt in that the lender protects their loan with the home as collateral. Much like auto loans, or other secured loans, the mortgage loan contract states that if the borrower fails to make payments toward the loan, the lender can take the home in order to recoup their losses. Oftentimes, the collateral on the loan is enough to cover the entire loan amount or at least what’s left of it. Therefore, the lender does not need to come after any of the borrower’s other assets in order to make their money back. For this reason, a homeowner’s vehicle, additional properties ..read more
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Can a Foreclosure Auction Be Stopped?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
4y ago
From the day a homeowner is notified that they have defaulted on their mortgage, the clock starts ticking on an impending auction date. The foreclosure process itself is a procedure that works backwards from the date of the auction, giving the homeowner the appropriate notice and warnings of the upcoming sale of their home. While this process generally goes on for months or even years, the only point to which you can no longer stop the foreclosure comes just 5 days prior to the auction date. According to the Nevada Foreclosure process, the lender is required to issue a Notice of Sale a minimum ..read more
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What Happens If I Fall Behind on My Second Mortgage?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
4y ago
While a second mortgage is lower in rank to a first or original mortgage, in the same way that a first mortgage is, it’s still a secured debt with your home acting as collateral. This gives lenders the ability to move forward with a foreclosure after either a first or second mortgage goes unpaid. However, because the second mortgage lender is second in line to collect in the event of a foreclosure, it’s sometimes not worthwhile. When it comes to foreclosure, the lender has to be able to recover at least some of their loan in order for foreclosure to be beneficial to them. A home having conside ..read more
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I’m Behind on My Mortgage Payments. Should I File For Bankruptcy or Move Forward With a Foreclosure?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
5y ago
There are many factors involved when deciding whether to face foreclosure, or resort to bankruptcy as an alternative to losing your home. Asking yourself the following questions can help to determine which path may be best for you. Do you have other debt or payments you may be falling behind on? With the exception of non-dischargeable debts such as child support, student loans, or alimony (see full list of non-dischargeable debts), filing for bankruptcy can help to eliminate or consolidate all of one’s debt, including their past-due mortgage and late fees. Do you want to keep your home? Filing ..read more
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Estoy atrasado en mis pagos de hipoteca. ¿Debo declararme en bancarrota o avanzar con una ejecución hipotecaria?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
5y ago
Hay muchos factores involucrados al decidir si enfrentar una ejecución hipotecaria o recurrir a la bancarrota como una alternativa a la pérdida de su hogar. Hacerse las siguientes preguntas puede ayudar a determinar qué camino puede ser mejor para usted. ¿Tiene otras deudas o pagos en los que se puede estar atrasando? Con la excepción de las deudas no cancelables, como la manutención de los hijos, los préstamos estudiantiles o la pensión alimenticia (consulte la lista completa de las deudas no cancelables), la declaración de quiebra puede ayudar a eliminar o consolidar todas las deudas, inclui ..read more
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Are There costs to the homeowner during a foreclosure?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
5y ago
Generally speaking, there are two different perspectives most homeowners have when facing foreclosure: 1) the idea that they will inevitable be losing their home, or 2) the mindset to do whatever it takes to keep their home. Whatever the perspective, it’s important to remember that additional costs may be incurred simply by getting to the point of foreclosure or pre-foreclosure. Those interested in saving their homes from foreclosure will need to provide a lump sum payment in order to reinstate their loan. Nevada state law allows the homeowner up until 5 days prior to the sale of the home in o ..read more
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Are their costs to the homeowner during a foreclosure?
LJ Law » Foreclosure Defense Blog
by info@ljlawlv.com
5y ago
Generally speaking, there are two different perspectives most homeowners have when facing foreclosure: 1) the idea that they will inevitable be losing their home, or 2) the mindset to do whatever it takes to keep their home. Whatever the perspective, it’s important to remember that additional costs may be incurred simply by getting to the point of foreclosure or pre-foreclosure. Those interested in saving their homes from foreclosure will need to provide a lump sum payment in order to reinstate their loan. Nevada state law allows the homeowner up until 5 days prior to the sale of the home in o ..read more
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