Nev. Rev. Stat. § 107.420

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 107.420 - "Foreclosure prevention alternative" defined

"Foreclosure prevention alternative" means a modification of a loan secured by the most senior residential mortgage loan on the property or any other loss mitigation option. The term includes, without limitation, a sale in lieu of a foreclosure sale.

NRS 107.420

Added to NRS by 2013, 2185; A 2015, 3345; 2019, 1371

Amended by 2019, Ch. 238,§19, eff. 10/1/2019.

Amended by 2015, Ch. 518,§15, eff. 10/1/2015.

Added by 2013, Ch. 403,§4, eff. 10/1/2013, applicable only with respect to trust agreements for which a notice of default is recorded on or after 10/1/2013, and to a judicial foreclosure action commenced on or after 10/1/2013.