Foreclosure Laws For Neveda

[oipo888]

What is the name of your state? Neveda

I am considering walking away and letting the bank foreclose on my second home. I am currently a resident in the state of California. I have a second home in Las Vegas of which I can no longer afford. I bought the house in 2003 for $260,000 and put $30,000 down. Today the house is worth $175,000 and I owe $230,000. I have tried to sell the house for over a year and can no longer make the payments.

My question is this; Does Neveda have anti-deficiency laws? and if so do they cover second homes. I have heard anti-deficiency laws do cover primary residence. Also what is the likelyhood of the banks actualy coming after someone for the balance?

Thanks for any help!What is the name of your state?What is the name of your state?

[FlyingRon]

Nevada is a far cry from California. They can pursue a deficiency judgment against you.

The question as to whether they come after you is "how much you got?"