Stop Nebraska Foreclosure
|
See our BBB report |  | |
|
|
|
 |
 |
 |
|
Foreclosure is a very serious matter, your now receiving all sorts of letters in the mail from different companies all telling you that they can help you. They could be all very confusing. If you've noticed, they all want you to do one of the following, so let's go over each of them one at a time.
Just Walk Away
It has come to our attention that some organizations are advising people on the phone and by mailers to home owners, to just walk away and let it go to foreclosure. It appears the organizations behind this campaign may be groups of investors that want to buy your property cheap at auction. This can be devastating for home owners in many states, as the home owner is responsible for the deficiency, which means if you owe $225,000 on your loan, and your home sells for $100,000 at auction, you're on the hook for the $125,000 difference. They can garnish wages to get it. This means the investor gets a great deal and the homeowner gets a huge bill as they are being kicked to the curb.
Private Investors/Lenders:
They will tell you that they will bring your mortgage current and payoff all back fees to save your home, and they will too, for a price of coarse.
In order for them to do that you must " quick Deed" (sign over your home to them in their name). In turn they will gladly lease your home back to you with 15-20% higher payments for maybe 1-2 or 3 years until they have made their investment back. Then they will agree sign your home back to you. Sounds good so far right? But here's the trick.
In the contract that you sign, always somewhere in the fine print. It will say if the leasee (you) are 24 hours late with your monthly payment within the duration of your contract, that the lessee (you) must evacuate the premises. Usually within 5 - 7 days. Over 90% of homeowners that fall for this trick end up losing there homes. These investors all know that you've had payment problems in the past, that's why they prey on homeowners in your situation. Next thing you know your family is out on the street, with no home or hope and the investor just tricked you out of your $150,000 home that cost them only $4,000 to $5,000 so PLEASE BEWARE, don't do it.
New Loan:
you to take out another loan (it sounds good on the surface but you'll pay much, much more in the long run). You have to start of a new loan from the beginning, you eventually lose all of your equity. All of your past payments are just wasted. You gain nothing. Don't fall for it.
Bankruptcy:
Don't do it! It will only save your home temporarily. Big rouble awaits you around the corner. Everyone says "file for bankruptcy it's easy don't worry we can get you squared away". Yea right. Do yourself a huge favor Don't do it!!
If you truly would like to save your home and have your case handled correctly, call the professionals. We will evaluate your case for free and inform you of your rights as a homeowner. We will introduce you to the many options that are available to save your home. To get your free evaluation either fill out a short questionier by clicking here or call now, 1-888-209-1424. | |
 |
 | |
|
|
|
Nebraska Foreclosure Process |
|
If you do not FULLY understand the foreclosure process outlined on this page and how it may apply to you please take advantage of our FREE consultation by clicking here.
The Process
Foreclosures in Nebraska take place judicially, through
the filing of petitions for foreclosure in the Nebraska District Court for the
county where the property is located. If a prior lawsuit has been won by the
lender for the amount due on a loan, it does not stop a lender from filing a
subsequent lawsuit seeking a foreclosure sale of mortgaged premises. However,
before the court will hear a petition for foreclosure, the lender must prove it
has been unable to collect what was judged to be owed in the prior lawsuit. If
a suit has been brought for satisfaction of a mortgage rather than a true
petition for foreclosure, the lender can only seek the amount due and
possession of the property rather than true foreclosure. Whenever a petition
for foreclosure is filed either alone or in conjunction with a petition for
satisfaction of a mortgage, then the court can decree a sale of the mortgaged
premises or such part as is needed to pay off the loan and the costs of
suit.
While the lawsuit is pending, the borrower has the right
to bring in the past due payments, including principal and interest, and costs,
and the lawsuit proceedings will be suspended (stayed). Nevertheless, the court
will enter a decree of foreclosure and sale. This will not be enforced unless
there is a further order of the court, which will not be given unless the
borrower defaults in the future payment of any installment or a portion of
one.
The court may order the entire property to be sold, or
some part of it, based on a report by the sheriff as to what appears to be the
most feasible. The order of sale may be stayed up to nine months after the
judgment if the borrower files a written request for a delay (stay) with the
clerk of the court within 20 days after the judgment is rendered. Otherwise,
the order commanding the sale of the mortgaged property will be given 20 days
after the judgment.
The sheriff or officer holding the sale must give public
notice of the time and place of the sale by posting the notice on the
courthouse door and at five other public locations in the county where the
property is located. Two of the five locations must be in the precinct where
the property is located. In addition, the sheriff must advertise the property
for sale once a week for four weeks in a newspaper either printed in the county
or generally circulated in the county. After making the sale, the sheriff or
officer will report it back to the court, which will then confirm the sale.
Once the sale is confirmed, the borrower has no right to redeem the
property.
A deed shall be executed by the sheriff and it will vest
in the purchaser the same title the borrower had. The sales proceeds will be
applied to discharge the lender's debt, and if there is a surplus, it goes to
other persons who are entitled to it, or it must stay with the court for three
months before it can be paid to the borrower.
Deficiency
A deficiency is only possible as a continuation of a
foreclosure suit, but not while the foreclosure action is pending or remains
incomplete. |
|
