Know how state of Nebraska foreclosure law will affect you

Laws on foreclosure vary considerably by state so you should be familiar with at least a summary of the foreclosure laws in Nebraska. You should also read your loan documents to know what your lender can do before speaking to any Nebraska foreclosure attorneys.

I recommend: In addition to a summary of Nebraska law, American Foreclosure Specialists provides a description of possible strategies for avoiding a foreclosure on your home. Foreclosurelaw.org offers a summary of Nebraska foreclosure laws and a glossary of common foreclosure terminology.

Get assistance with Nebraska foreclosure recovery information

There are housing counselors and online resources available to help you understand your options, assist you in organizing your finances and negotiate with your lender if needed.

I recommend: Visit the National Foundation For Credit Counseling’s Homeowner Crisis Resource Center for information and tools to get started understanding your foreclosure options. The Homeownership Preservation Foundation offers a hotline that provides free foreclosure prevention counseling by HUD-approved agencies.

Retain a Nebraska foreclosure attorney

If you need to sign documents, you may need a lawyer who is an expert in foreclosure laws. Nebraska attorneys that do not have foreclosure law experience may at least be able to make a referral.

I recommend: Abrahams Kaslow & Cassman in Omaha has an extensive practice that includes real estate law as one of their core areas. Mark John Malousek provides advice in several areas of real estate including foreclosures.

Watch out for mortgage recovery scams

The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like "guarantee" and "97% success rate", upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission.  The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.