Foreclosure & Alternatives Law
How Can a Lender Foreclose on a Property in Nebraska?
Both judicial and non judicial foreclosures are allowed in Nebraska. If the mortgage agreement contains a power of sale clause then a non judicial foreclosure may be pursued. That means that the lender must provide the borrower and the public with the notice required by the mortgage agreement or state law and conduct the sale in accordance with the mortgage agreement and state law.
If there is no power of sale clause in the mortgage agreement then the lender must sue the borrower in state court and obtain court permission to conduct the foreclosure.