Nebraska Foreclosure Laws

Attorney General's Office

2115 State Capitol
P.O. Box 98920
Lincoln, NE 68509-8920
Ph: (402) 471-2682
Fax: (402) 471-3297

Foreclosure Laws in Nebraska

Judicial Foreclosure: Yes
Non-Judicial Foreclosure: Yes
Security Instruments: Mortgage
Right of Redemption: None. After Confirmation of Sale
Deficiency Judgments: No
Time Frame: 180 Days
Public Notice: Petition

Judicial foreclosure: Only judicial foreclosure is allowed in Nebraska. The lender sues the defaulted borrower and the court issues a judgment of foreclosure stating the delinquent amount and gives the borrower a short time to bring the loan current. If the borrower fails to do so, the court issues an order of sale, and the clerk of the court then advertises the property for sale. The court may also order part or all of the property to be sold.

1. The borrower can delay the order of sale for up to nine months by filing a written request for delay with the clerk of the court within twenty days following judgment of foreclosure. Otherwise, the order of sale will be issued twenty days following the rendering of the judgment.

2. At any time, while the suit and order of sale are pending, the borrower may cure the default by brining the loan current and paying any accrued costs. The judgment of foreclosure and order of sale remain standing and may be enforced should the borrower again go into default in the future.

3. If the sale is to go forward, the sheriff must post the notice of sale, giving the time and place of the sale on the door of the county courthouse, in five other public places in the county, and publish the notice of sale weekly for four consecutive weeks in a newspaper of general circulation and published in the county in which the property is located.

4. The court must then confirm the sale. Once this occurs, the borrower has no right of redemption. Deficiency judgments are not permitted.

Laws:

• Section 25-531 Lis pendens; notice; where filed; contents; recording; cancellation; filing fee
  Law which regulates the criteria of a summons served by a creditor or plaintiff.

• Section 25-1530 Foreclosure; redemption of land from levy and sale; rights of mortgagor
  Law which regulates the foreclosed owner the right to redeem property sold after an auction.

• Section 25-1541 Sale of lands or tenements; reversal of judgment; title of purchaser; restitution
  Law which regulates a judgment be reversed for monies compensated only.

• Section 25-2138 Sale of premises; decree; power of court
  Law which regulates the right of the court to make a final judgment.

• Section 76-2,120 Written disclosure statement required, when; contents; delivery; liability; noncompliance; effect; State Real Estate Commission; rules and regulations.
  Law which regulates a seller to provide the purchaser with a disclosure statement.

• Nebraska State Statutes