Nevada Assembly Bill No. 273

Darren Welsh’s Blog on AB 273

Actual Assembly Bill 273

CONCLUSION

The bottom line to AB 273 is that lenders have only six (6) MONTHS to file a lawsuit for a deficiency judgment after either a short sale or foreclosure sale. That six (6) months applies to second mortgages. In other words after a short sale or foreclosure sale the lender only has six (6) months to come after you for the second mortgage.

The prior time for which to file a lawsuit was six (6) YEARS after completion of the short sale or foreclsoure sale. See my previous article on time limitations for filing deficiency judgment lawsuits.

About Stout Law Firm

James Stout has practiced law in Orange County since 1995 and is highly regarded by the business community. He has passed three bar exams, California, Arizona and Nevada.
This entry was posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized. Bookmark the permalink.

1 Response to Nevada Assembly Bill No. 273

  1. If you purchaed your home before the 2009 cutoff date but you modified your loan would you then qualify under sthe AB273 Ruling?

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