Any way to know if lender will pursue a judicial or non-judicial foreclosure?

[VegasUnderH20]

I live in Nevada in which both options are available for lenders.  But is there any way to know which foreclosure method a lender will pursue? If it helps, my loan is owned by Fannie Mae, and serviced by Green Tree.  As I understand, and please correct me if I'm wrong, if a lender pursues the non-judicial foreclosure, then they cannot sue you for the deficiency.  They will instead 1099 you and take a tax deduction. But if they go the judicial foreclosure route, then, here in NV, they have 6 months to sue you and obtain a deficiency judgment.

[SoulMaster]

Greentree is non-judicial, for now.  This may change after SB321 goes in to play.

RE: NV, if a lender goes the non-judicial route AND the original loan was before 6/1/2011, they CAN sue for the deficiency.  They have 6mo to 6years depending on the subordinance of the note.

They will send you a 1099 regardless of whether or not they sue you. 1099 doesn't release the debt owed, it's an internal accounting thing.

If they go the judicial route, the deficiency judgement is part of the foreclosure. (They get the judgement and the house at the same time).

-SM

[VegasUnderH20]

Thank you for the info.  So if my loan was originally BofA, and then Green Tree became my servicer several years ago (and the loan is owned by Fannie Mae), does that mean that Green Tree would be the party to sue for a deficiency judgment (if they decide to do that)?

If so, I went to the Clark County Courts Records Inquiry

Then I changed the search by to party, clicked on Business and typed in Green Tree and hit search. Only two cases came up!  If I conducted the search correctly, does this mean that Green Tree has not filed any lawsuits to obtain deficiency judgments here in Las Vegas?

[VegasUnderH20]

I need to make a revision to what I put in my previous post. Under the party name, you have to put Green Tree Servicing LLC not just Green Tree and it will pull up many cases. However, when I start working backwards from 2013 looking at the closed breach of contract cases, I haven't come across one case that shows a judgment.  Most of them say

Notice of Dismissal
  Notice of Dismissal Pursuant to NRCP 41(a)(1)

or

Order to Statistically Close Case

Civil Order To Statistically Close Case

So why are all these cases dismissed?!

[StartingOver10]

Could it be that Green Tree sold the deficiency to someone else to collect? That's typically what happens with a judgment. If they sell the judgment it results in two things - instant cash flow for Green Tree and less negative publicity for Green Tree (as someone else is collecting the debt). As pointed out before, the judgment is issued with the f/c so it's not like they have to go back and get a judgment after the f/c.

[VegasUnderH20]

So you're suggesting that the lawsuit to initially obtain the deficiency judgment might not have Green Tree as the Plaintiff? That doesn't seem likely. Yes, once they actually are awarded the judgment by the court, they can have someone else try to collect on it.   Regarding the judgment being issued with the f/c, that's only the case in a judicial f/c.  Non-judicial f/c's (notice of default after 3 months of not paying, followed by notice of sale, bla bla) make up the vast majority in Nevada.  The lender has 6 months after the date of the sale of the home to file their complaint for the deficiency.  What I'm trying to do is actually look up the court filings to see just how many times Green Tree has gone after borrowers.  From what I've come to understand, the lender will only seek the judgment if they believe, based on the borrower's credit report, that they are wealthy, or have valuable assets, etc...