[Reno1]

It appears that a lot of postings in this forum are California related. I am aware that we have different foreclosure laws in Nevada.

I am currently 4 months behind on my first and second. I contacted Hope Alliance/Greenpath Debth Solutions to help out a loan modification. Everything is so confusing right now, and I am not even sure if this will work. Obviously, it may ultimately result in me walking away and go into foreclosure.

My question is... it can't be that simple (here in NV) is it? Just walk away on $548K debt with somekind of repercussion? I read one of the threads (by racoon?) and that an insurance company is suing him for the difference. Is this typical or just an isolated case.

As I stated in title, I would appreciate if anyone who have gone or in the process of foreclosure in Nevada share their stories. I am so stressed out by all this, and I know I am not the only one.

Loan background:
438K National City Mortgage 80% int. only 3 yrs,
110K Homecoming Financial 20% 15 years

First will reset in December.
Purchase money for 1 and 2