If you are facing foreclosure in Nebraska, it’s important to understand some of the basics, including:
- the most common type of foreclosure procedure (judicial v. nonjudicial) used in Nebraska
- how much time you have to respond
- your rights and protections in the process, and
- what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).
Below we have outlined some of the most important features of Nebraska foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.
|Common type of foreclosure process||Nonjudicial|
|Time to respond||After court issues foreclosure judgment, foreclosing party must post a notice of sale on the courthouse door and in five other public places and publish notice weekly for four weeks.|
|Reinstatement of loan before sale||Available while foreclosure lawsuit is proceeding and after the court issues a decree of sale but before sale. If mortgage is reinstated after decree of sale, the court will enter a judgment of foreclosure and sale but stay the effect of the judgment as long as homeowner stays current on payments.|
|Redemption after sale||No|
|Special protections for foreclosures involving high-cost mortgages||None|
|Special state protections for service members||None|
|Deficiency judgments||May be obtained by filing separate lawsuit after a court issues a foreclosure judgment. Within three months after foreclosure sale, can bring an action seeking a deficiency judgment on the note (which reopens the foreclosure and sale). Judgment is limited by property’s fair market value.|
|Cash exempted in bankruptcy||$2,500 for one person, $5,000 for a married couple|
|Notice to leave after house is sold||In foreclosure judgment, court may order former owner to leave.|
|Foreclosure statutes||Neb. Rev. Stat. §§ 76-1005, 76-1018|