Nebraska Foreclosure Laws

The state of Nebraska allows for a foreclosure to take six months or 180 days on average from the time the lender initiates the proceedings until they have been completed.

Only a judicial foreclosure is allowed in Nebraska. The lender going to court to sue the borrower whom has defaulted on the loan accomplishes this and then the court issues a foreclosure judgment that states the amount of the loan that is delinquent. The court then gives the borrower a short time to bring the loan current.

In the event that the borrower can’t bring the loan into a current status, the court will then issue an order of sale, and the clerk of the court then advertises the property for sale. The court has the power and ability and may also order only a portion of the property or all of the property to be sold.

The person who is in default may also delay the order by up to nine months time by filing such a request with the circuit court clerk within twenty days of the filing of the foreclosure judgement. If this is not done the sale will proceed as scheduled.

The borrower may satisfy the loan by making it current and paying any accrued costs during this period of time.

If the sale is to go forward, the sheriff must post the notice of sale, giving the time and place of the sale on the door of the county courthouse, in five other public places in the county, and publish the notice of sale weekly for four consecutive weeks in a newspaper of general circulation and published in the county in which the property is located.

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