Nebraska Foreclosure Law

Timeline: 180 Days

Redemption: No

Deficiency Judgments: No

Judicial Foreclosure: Yes

Non-Judicial Foreclosure: No

Security Instruments: Mortgage

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In Nebraska , lenders may not use a Non-Judicial Foreclosure process. The lender must sue the borrower through a Judicial Foreclosure process. If the borrower is in default and the lender sues for foreclosure, the court will issue a judgment of foreclosure that states the amount delinquent. The judgment will also give the borrower a short time to bring the loan current. If the borrower is unable to bring the loan current, a notice of sale will be issued by the court, and the clerk of the county will advertise the sale of the property. Either all or just a part of the property may be ordered sold. Within twenty (20) days of the filing of the judgment of foreclosure, the borrower can file a written request delaying the sale of the property for up to nine (9) months. If the borrower does not do this, the order of sale will be issued after the twentieth day of the filing of the judgment.

The borrower may bring the loan current and cure the default any time while the suit and order of sale are pending. The original judgment and order of sale remain standing and can be enforced if the borrower again defaults on the loan.

If the borrower can not cure the default, the county sheriff must post notice of the sale on the door of the county courthouse. The notice must contain the time and place of the sale, and must be posted in five other public places in the county. As well, it must be published for four (4) consecutive weeks in a generally circulated newspaper in the county in which the property is located.

Once the sale happens and is confirmed, the borrower may not redeem the property. The lender may not sue the borrower for a deficiency judgment in the event the sale price is not of a sufficient amount to pay the balance of the loan due plus costs.