1. With regard to a deed of trust for an estate in real property to secure the performance of an obligation or the payment of a debt, the provisions of this section apply to the exercise of a power of sale pursuant to NRS 107.080 only if:
(a) The deed of trust becomes effective on or after October 1, 2003, and, on the date the deed of trust is made, the deed of trust is subject to the provisions of § 152 of the Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1602(bb), and the regulations adopted by the Board of Governors of the Federal Reserve System pursuant thereto, including, without limitation, 12 C.F.R. § 226.32; or
(b) The deed of trust concerns owner-occupied housing.
2. The trustee shall not exercise a power of sale pursuant to NRS 107.080 unless:
(a) In the manner required by subsection 3, not later than 60 days before the date of the sale, the trustee causes to be served upon the grantor or the person who holds the title of record a notice in the form described in subsection 3; and
(b) If an action is filed in a court of competent jurisdiction claiming an unfair lending practice in connection with the deed of trust, the date of the sale is not less than 30 days after the date the most recent such action is filed.
3. The notice described in subsection 2 must be:
(a) Served upon the grantor or the person who holds the title of record:
(1) Except as otherwise provided in subparagraph (2), by personal service or, if personal service cannot be timely effected, in such other manner as a court determines is reasonably calculated to afford notice to the grantor or the person who holds the title of record; or
(2) If the deed of trust concerns owner-occupied housing:
(I) By personal service;
(II) If the grantor or the person who holds the title of record is absent from his or her place of residence or from his or her usual place of business, by leaving a copy with a person of suitable age and discretion at either place and mailing a copy to the grantor or the person who holds the title of record at his or her place of residence or place of business; or
(III) If the place of residence or business cannot be ascertained, or a person of suitable age or discretion cannot be found there, by posting a copy in a conspicuous place on the trust property, delivering a copy to a person there residing if the person can be found and mailing a copy to the grantor or the person who holds the title of record at the place where the trust property is situated; and
(b) In substantially the following form, with the applicable telephone numbers and mailing addresses provided on the notice and, except as otherwise provided in subsection 4, a copy of the promissory note attached to the notice:
NOTICE
YOU ARE IN DANGER OF LOSING YOUR HOME!
Your home loan is being foreclosed. In not less than 60 days your home may be sold and you may be forced to move. For help, call:
Consumer Credit Counseling _______________
The Attorney General __________________
The Division of Mortgage Lending _____
The Division of Financial Institutions ________________
Legal Services ______________________
Your Lender ___________________
Nevada Fair Housing Center ________________
4. The trustee shall cause all social security numbers to be redacted from the copy of the promissory note before it is attached to the notice pursuant to paragraph (b) of subsection 3.
5. This section does not prohibit a judicial foreclosure.
6. As used in this section, "unfair lending practice" means an unfair lending practice described in NRS 598D.010 to 598D.150, inclusive.
(Added to NRS by 2003, 2892; A 2009, 1757, 2791; 2011, 1681, 2031; 2013, 3478; 2015, 3322; 2017, 4105, 4106; 2019, 1358)
Structure Nevada Revised Statutes
NRS 107.020 - Transfers in trust of real property to secure obligations.
NRS 107.026 - Priority of certain deeds of trust over other liens.
NRS 107.029 - Trustees: Declaration of nonmonetary status; objection to declaration.
NRS 107.040 - Adoption of covenants by reference in instrument.
NRS 107.050 - Parties may enter into different or additional covenants.
NRS 107.055 - Amount must be stated in instrument.
NRS 107.0795 - "Abandoned residential property" defined.
NRS 107.081 - Time and place of sale; agent holding sale not to be purchaser.
NRS 107.082 - Oral postponement of sale.
NRS 107.083 - Proceedings after purchaser refuses to pay amount bid.
NRS 107.084 - Penalty for removing or defacing notice of sale.
NRS 107.0865 - Mediation to negotiate loan modification.
NRS 107.087 - Notice of default and election to sell in residential foreclosure: Requirements.
NRS 107.095 - Notice of default: Mailing to guarantor or surety of debt; effect of failure to give.
NRS 107.100 - Receiver: Appointment after filing notice of breach and election to sell.
NRS 107.140 - Sale in lieu of foreclosure sale: Limitations.
NRS 107.200 - Contents of statement regarding debt secured by deed of trust.
NRS 107.210 - Contents of statement of amount necessary to discharge debt secured by deed of trust.
NRS 107.230 - Proof of authorization to request statement.
NRS 107.240 - Grounds for refusal to deliver statement.
NRS 107.260 - Copy of note or deed of trust for authorized requester.
NRS 107.270 - Address to which request for statement must be mailed.
NRS 107.280 - Debt to which information contained in statement is applicable.
NRS 107.300 - Penalty for failure to deliver statement; bar to recovery of certain damages.
NRS 107.310 - Fee for furnishing statement.
NRS 107.311 - Applicability of NRS 107.310.
NRS 107.410 - "Borrower" defined.
NRS 107.420 - "Foreclosure prevention alternative" defined.
NRS 107.430 - "Foreclosure sale" defined.
NRS 107.440 - "Mortgage servicer" defined.
NRS 107.450 - "Residential mortgage loan" defined.
NRS 107.470 - Right of borrower to pursue more than one foreclosure prevention alternative.
NRS 107.480 - Restrictions on trustee’s power of sale and civil actions for foreclosure sales.