NRS107.420. “Foreclosure prevention alternative” defined.

Latest version.

“Foreclosure prevention alternative” means a modification of a loan secured by the most senior residential mortgage loan on the property or any other loss mitigation option. The term includes, without limitation, a sale in lieu of a foreclosure sale, as defined in NRS 40.4634.

(Added to NRS by 2013, 2185)

                    
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