Finance
What is a deficiency judgment in Nevada and when can it be pursued after foreclosure?
AA judgment for the full loan balance always available after any foreclosure
BA judgment against the borrower for the amount the foreclosure sale price falls short of the outstanding loan balance — Nevada law has anti-deficiency provisions limiting this in certain circumstances✓ Correct
CA judgment available only in judicial foreclosures
DA judgment for damages the property caused to neighbors
Explanation
After a Nevada non-judicial (trustee's sale) foreclosure, anti-deficiency statutes (NRS 40.455) limit the lender's ability to pursue the borrower for any deficiency on purchase money mortgages for owner-occupied residential property. However, refinances and non-purchase money loans may still be subject to deficiency judgments.
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