Allied Installment Collection & Foreclosure Services
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Foreclosure Services

In addition, Allied handles Nevada non-judicial foreclosures. Should the payer default in payments and the debt is secured by real estate in Nevada we can handle the non-judicial foreclosure in most cases.

FORECLOSURE SUMMARY

Allied will act as Trustee to complete a non-judicial foreclosure in case of default on most Deeds of Trust recorded in Nevada. Foreclosure is the remedy for default for many different reasons which are stated within the deed of trust. If the payor(s) is delinquent in payments, fail to pay the loan in full at the all due date, fails to pay taxes or homeowners fees when due, or cancels insurance, the payee may elect to declare a default and begin foreclosure proceedings. The foreclosure process takes approximately 120 days from the recordation of the Notice of Default to the sale of the property at the courthouse steps.

Allied Foreclosure Services will ensure that your foreclosure is completed legally and professionally as required by Nevada Statute. We are local and take pride in our personal service.

FREQUENTLY ASKED QUESTIONS:

Can we forego the foreclosure sale and just take the property back instead of holding the sale at the courthouse steps?

No, to complete the foreclosure process it is necessary to hold the sale at the courthouse steps. You can request a ’Deed in Lieu of Foreclosure’ from the Payor however, you will accept the property and its title in the condition it is in at that time. This includes, but is not limited to, all judgments and liens against the property. Allied can complete the deed in lieu process which will include obtaining a preliminary title report from a title company. Please consult your legal advisor prior to accepting a deed in lieu.

My promissory note states that the balance is due in full upon default although we have not reached the all due date. Is this true?

By statute every Payor has a 35 day period to bring the loan current(except if the basis of the foreclosure is due to the Note maturing). If the property is owner occupied, they can cure the default up to five (5) days before the foreclosure sale at the courthouse steps.

How much are the fees and when will they be due?

The fees are based on the remaining balance of the loan. Contact our office for a quote. We require a deposit of approximately $800.00 prior to recording the Notice of Default. The remaining balance will be due at the 90th day to begin advertising the sale of the property. The Payor will be required to pay all of the fees when the default is cured. We would require the Payee to pay our accumulated fees if there is an order stopping our foreclosure (i.e. bankruptcy, restraining).

To set up a Nevada non-judicial foreclosure fax or scan your documents to our office along with the status of the loan. Include your contact information and we will forward the documents necessary to begin the foreclosure process.

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