Judicial/ Non-Judicial Foreclosure: Available/ Not-Available

Right of Redemption / Deficiency Judgment: Yes / No

Timeline: 180 Days, Can vary depending on individual cases

Deed of Trust / Mortgage as Security Instruments: Mortgage

The Judicial process of foreclosure is followed in Nebraska.

Judicial Foreclosure process:   

In a Judicial foreclosure process the lender files a lawsuit against the borrower if they default on their mortgage payments. The court verifies if the borrower has defaulted and it decides on the amount that needs to be settled by the borrower to avoid the foreclosure. If the borrower does not pay up within the given time, the court then issues an order authorizing the foreclosure sale.

In Nebraska, the property will normally be sold after twenty days from the date of Judgment, but the borrower can delay the proceedings for up to nine months by giving a written request to the clerk of the court in this regard.

Depending on the amount due, the whole property may be sold or just a part of it may be sold.

The court will allow the foreclosure proceedings to be stopped if the borrower pays their dues (along with interest charges and other dues) at any point prior to the sale. The court may however enter a decree of foreclosure/sale which can be utilized to sell the property if the buyer defaults on the mortgage payments once again.

As a part of the foreclosure proceedings, the sheriff issues a notice of sale with all the details about the borrower/lender/property/foreclosure sale details, etc. included.

This notice needs to be published in a local newspaper available in the county where the property is located, at least once in a week for four consecutive weeks. This notice needs to be pasted on at least five public places in the same county and also on the main door of the courthouse. Once the court confirms the foreclosure sale, the borrower cannot claim back their property using right of redemption.