Redemption and Deficiency Judgments in Nebraska
Whether you can buy back your home after a foreclosure sale in Nebraska, and whether the lender can sue for what's still owed.
Short answer: There is no redemption after a trustee's sale: the trustee's deed conveys the property without any right of redemption, and the owner's rights end when the trustee accepts the highest bid. Neb. Rev. Stat. §§ 76-1010, 25-1530
| Redemption after the sale | There is no redemption after a trustee's sale: the trustee's deed conveys the property without any right of redemption, and the owner's rights end when the trustee accepts the highest bid. In a court (judicial) foreclosure, the owner can redeem at any time before the court confirms the sale by paying into court the amount of the decree with interest and costs (plus 12% interest on the purchase price to a buyer who was not the plaintiff). |
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| Deficiency judgments | Allowed after a trustee's sale, with limits. The lender must file the deficiency lawsuit within three months after the sale. The court must find the property's fair market value on the date of sale and cannot award more than the debt (with interest, costs and trustee's fees) minus that fair market value, and never more than the debt minus the sale price. Source: Neb. Rev. Stat. § 76-1013 |
More Nebraska foreclosure & homeowner law
- How Foreclosure Works in Nebraska
- HOA Liens and Foreclosure in Nebraska
- Getting Your Home Back After a Tax Sale in Nebraska
- All Nebraska foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Nebraska?
There is no redemption after a trustee's sale: the trustee's deed conveys the property without any right of redemption, and the owner's rights end when the trustee accepts the highest bid. In a court (judicial) foreclosure, the owner can redeem at any time before the court confirms the sale by paying into court the amount of the decree with interest and costs (plus 12% interest on the purchase price to a buyer who was not the plaintiff).
Can the lender come after you for the rest of the loan after foreclosure in Nebraska?
Allowed after a trustee's sale, with limits. The lender must file the deficiency lawsuit within three months after the sale. The court must find the property's fair market value on the date of sale and cannot award more than the debt (with interest, costs and trustee's fees) minus that fair market value, and never more than the debt minus the sale price.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.