Can I Sell My Norfolk House in Foreclosure?

You get a written offer and written terms before you commit, and we close through a title company. We review the sale notice and payoff information with you and work toward closing before the sale.

Close as fast as 7 days when title and closing details allow.

The lender can use a trustee instead of starting a court case. The trustee records a notice of default with the county Register of Deeds. For one month after that notice is recorded, you can generally cure a payment default before the loan’s original maturity by paying the amount due plus allowed costs and fees. Principal due only because the lender accelerated the loan is excluded from that cure amount; principal already due at maturity is not. The period is two months for certain farm properties. A later cure before the sale can have different allowed costs and fees. See Neb. Rev. Stat. §76-1006 and §76-1012.

After at least one month — or two months for the specified farm properties — the trustee can publish the sale notice once a week for five weeks. The last publication must be 10 to 30 days before the sale, and the trustee must mail you a copy at least 20 days before the sale. The sale is a public auction; the trustee can postpone it by announcement at the sale. See §76-1007, §76-1008, and §76-1009. There is no right to buy the house back after a trustee’s sale; see §76-1010.

The lender must go to court, and a sheriff or court-appointed officer conducts the sale. Within 20 days after the court’s decree, you can file a written request to delay the sale. The delay can be nine months. For residential mortgages covered by the statute, it is three months if the original final payment date was more than 20 years after the foreclosure complaint was filed, or six months if it was more than 10 but no more than 20 years after filing. See Neb. Rev. Stat. §25-1506.

You can redeem before the court confirms the sale by paying the judgment, interest, and costs. If the auction buyer is not the lender who brought the case, the law also requires interest on that buyer’s purchase price. See §25-1530.

If you live in the house and foreclosure has started, Nebraska generally lets you cancel a contract covered by the Nebraska Foreclosure Protection Act to sell to a business buyer. You generally have until midnight of the third business day after signing, or noon on the last business day before the sale, whichever comes first. The Act gives no cancellation right if you first agree to the purchase on or after that noon deadline. This is separate from the foreclosure sale deadlines. See Neb. Rev. Stat. §76-2712 and §76-2721.