I have a lein that hasn't been paid I can't afford to foreclose what are my options the owner moved out 7 months ago and left the trustee occuping the home work still continued to finish up because the trustee can't have the home undone they have children but im guessing I have to foreclose now so what Are my steps and do really lose my funds because I didn't enforce my lein into foreclosure?
In order to perfect your lien you will need to file a lawsuit within 6-months of recording the lien. If you do not know this, your lien will become invalid. I would suggest you file the lawsuit to protect your interest and then determine how to proceed after you file the lawsuit. A good construction lawyer can use the leverage of the lien statute to try and settle with the Trustee, becauase Nevada law requires that your attorneys fees and costs get reimbursed if you prevail. If you do not follow through with the lien, you may have a vary difficult time getting any money.
In addition, if you file suit against the home and record a Lis Pendens against the Property, they will have to pay you off or post a bond if they try to sell it.
Thank you sir i appreciate that very much, what is a Lis Pendens? And how do I go about doing this?