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​The 3 Key Steps in a Nevada Foreclosure (and How to Stop It Before It’s Too Late)

If you’ve missed a few mortgage payments and are starting to feel overwhelmed, you're not alone. Many Las Vegas homeowners don’t fully understand what happens during a foreclosure- or that they may still have options to avoid it.

Let's break down the three main steps of a non-judicial foreclosure in Nevada and I will explain what you can do before it's too late.

Step 1: Notice Is Filed

The foreclosure process begins when a lender doesn’t receive payments as outlined in your Deed of Trust.  At that point, they file a Notice of Default (NOD) or a Notice of Sale with the Clark County Recorder’s Office (or your local county recorder).
​This notice is:
  • Sent by certified mail to all parties with a legal interest in the property
  • Publicly recorded, which may affect your credit and title status
  • Required to include a time frame to bring the loan current (this is your chance to fix it)

What You Can Do Now:
You may still be able to stop the foreclosure! Some homeowners can:
  • Sell the home traditionally and pay off the full loan amount before the foreclosure continues
  • Negotiate a short sale, where the lender agrees to accept less than what’s owed to settle the debt
​
🚨 Important: A short sale is often less damaging to your credit than a foreclosure, and in many cases, you can remain in your home during the process.

Step 2: Sale Date Is Set and Notices Are Posted

If the loan isn’t brought current or settled with a sale, the lender moves to the next stage: setting the foreclosure auction date.
​At this point:
  • A Notice of Sale is filed and sent to lien holders and government tax agencies
  • Notices are publicly posted and published according to Nevada’s legal timeline
  • You are officially on the clock to resolve the debt or risk losing the home at auction

Step 3: The Trustee’s Sale or Auction

On the scheduled date, the property is sold at a public auction- usually on the steps of the county courthouse.
​Here’s what to know:
  • Bidders must show up with certified funds (like cashier’s checks or money orders)
  • Any unpaid taxes or senior liens become the responsibility of the winning bidder
  • If no one bids high enough, the property reverts to the lender and becomes an REO (Real Estate Owned) property, which may later be sold on the open market
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Can You Avoid Foreclosure in Nevada?

Yes, but timing is everything. The earlier you act, the more options you have.
​
Whether you’re just a few months behind or already received a notice, don’t wait for the auction. Many Las Vegas homeowners qualify for alternatives like:
  • Loan modification
  • Repayment plans
  • Short sale
  • Selling before the foreclosure completes
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Talk to a Local Expert Before It's Too Late

​I’m Heather Poniewaz, a certified Short Sales and Foreclosure Resource (SFR®) REALTOR® here in Las Vegas. I help homeowners understand their rights, review their options, and take back control of their financial future.

​📞 Call or Text: 702-706-4758
📧 Email: [email protected]
BOOK A FREE CONSULTATION
Most matters pertaining directly to foreclosure are set out in detail by State Law. This information is a general guideline only, and consumers are urged to consult legal counsel regarding their rights and responsibilities under state and federal law.
Go Back:  Foreclosure & Short Sale Options
Read Next:  ​Nevada Foreclosure Timeline: What Every Homeowner Needs to Know
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Heather Poniewaz
Realtor, GREEN, SFR, NHCB, CREN, ABR
​S.0168738

702-706-4758
[email protected]

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  • Home
  • 90 Ways I Serve You
  • For Buyers
  • Search for Homes
  • For Sellers
  • Foreclosure & Short Sale Options
  • Escrow/Closing Information
  • Google Business Reviews
  • Clark County Market Reports
  • Free Consultation
  • Preferred Partners
  • Brokerage Website
  • Blog Page