Keep the home
Reinstate the loan
Pay the missed amount plus permitted fees before the applicable cutoff. Ask your servicer for a written reinstatement quote and expiration date.
Ask: What exact amount and payment method will reinstate my loan?
Your possible paths
The best next step depends on your goal and your deadline.
These are common options, not promises. Availability depends on your loan, servicer, finances, property value, liens, and where you are in the process.
Keep the home
Repayment, forbearance, or modification
Your servicer may spread missed payments, temporarily reduce or pause payments, or evaluate a change to the loan terms. Approval is not guaranteed.
Ask: What complete loss-mitigation application do you require?
Get a structured conversation
Nevada foreclosure mediation
Eligible owner-occupied homeowners may request mediation under NRS 107.086. The notice sent with a notice of default should explain the election process and deadline.
Act promptly: follow the instructions and deadline in your notice.
Sell the home
Traditional sale
If the expected sale proceeds can cover the mortgage, liens, and selling costs—and there is enough time—a sale may preserve remaining equity.
Ask: What is the payoff amount, and is a sale already scheduled?
Sell with lender approval
Short sale
When the home may sell for less than the debt, the lender can choose whether to approve a short sale. Get any treatment of the remaining balance in writing.
Ask an attorney and tax professional about deficiency and tax consequences.
Leave the home
Deed in lieu
A lender may agree to accept title instead of completing foreclosure. Junior liens and other conditions can prevent approval.
Do not transfer title without independent legal review.
Bankruptcy is a legal option, not a simple delay tactic.
A bankruptcy filing can create an automatic stay, but it has major legal and financial consequences. Speak with a qualified bankruptcy attorney before relying on it to stop a sale.
General information only. This is not legal, tax, credit, or financial advice.