1. How long can I stay in my home if I do a short sale?
A = The timeline for the bank to take possession of your home in the event of foreclosure in Nevada is about 18 months. If you default and have equity in your home, the bank is likely to sue you in a judicial foreclosure and take the home much faster. If you do a short sale, that timeline can be extended much longer. When you list your home as a short sale, the foreclosure process is suspended usually for as long as it takes for the short sale to be successful. The time to complete a short sale can be quick or long, depending on how you approach it. For more information, give Leslie a call and request a free consultation.