Red Rock Financial Services is the leader in collection services for Community Associations in Nevada. Red Rock is a collection agency fully licensed where required, and in full compliance with collections laws, providing collection services to Community Associations through the non-judicial foreclosure process. We have years of experience in collecting assessments for Common-Interest Communities, with a strong focus on customer service and client relations. All services are provided with no up-front fees and at no cost to the association.

Non-Judicial Foreclosure

Nevada allows a non-judicial foreclosure process. Under the non-judicial foreclosure process, a foreclosure can be completed outside the court system based on power of sale given to a trustee.

COLLECTION TIMELINE


COLLECTION PROCESS

Step 1: Account Intake & Verification
  • Verify account falls within the scope of Red Rock Financial Services policies and procedures as well as all applicable statutes.
  • Confirm ownership of property via official County Records.
Step 2: Initial Notice (Demand Letter)
  • The Initial Notice is mailed via the United States Postal Service, first class and certified – return receipt requested, to all addresses known at the time. 
  • Balance is broken down into 3 categories.
  • Includes information pertaining to the debtor’s right to dispute the validity of the debt.
  • Sets time frame for debtor response at 35 days.
Step 3: Notice of Claim of Lien (Notice of Delinquent Assessment)
  • A Notice of Claim of Lien is recorded with the County, and a copy is mailed via the United States Postal Service, first class and certified – return receipt requested, to all addresses known at the time.
  • A Notice of Default and Election to Sell can be recorded no less than 30 days later for assessment accounts.
  • Debtor may enter into a payment agreement. 
Step 4: Intent to Notice of Default
  • No less than 20 days after the Notice of Claim of Lien, a courtesy letter can be mailed via the United States Postal Services
  • Encourages debtors to make contact to discuss payment options.
  • Notice of Default is scheduled for recording no less than 10 days later.
Step 5: Notice of Default and Election to Sell Pursuant to the Lien for Delinquent Assessments
  • No less than 30 days after the Claim of Lien, a Notice of Default can be recorded with the County.
  • Property Search Report / Trustee Sale Guarantee (PSR/TSG) is obtained.
  • A copy of the Notice of Default is mailed via the United States Postal Service, first class and certified – return receipt requested, to all addresses known and all parties appearing on the PSR/TSG report. 
  • The Notice of Default must mature for a minimum of 90 days.
  • Provides a breakdown of the Super Priority Lien amounts.
  • No less than 90 days from recording, a Notice of Sale can be recorded.
Step 6: Intent to Notice of Sale/Mortgage Letter
  • No less than 60 days after the Notice Default, a courtesy letter can be mailed via the United States Postal Services.
  • Encourages debtors to make contact to discuss payment options.
  • A separate letter is also sent to parties appearing on the PSR/TSG report.
  • No less than 30 days later a Notice of Sale can be recorded.
Step 7: Final Notice
  • No less than 90 days after the Notice of Default, a second courtesy notice can be mailed via the United States Postal Services.
  • Notice of Sale is scheduled no less than 10 days later.
Step 8: Notice of Foreclosure Sale Under the Lien for Delinquent Assessments
  • No less than 90 days after the Notice of Default, a Notice of Foreclosure Sale can be recorded with the County and a date set for auction.
  • A copy of the Notice of Foreclosure will be provided* in the following manner:
    • Posted in a public place for a minimum of 20 days prior to auction.
    • Published in a newspaper of general circulation for 3 consecutive weeks.
    • Posted in a conspicuous place on the unit.
    • Mailed via first class and certified, with return receipt requested through the United States Postal Service to all addresses known and all parties appearing on the PSR/TSG report.
  • For those who may need assistance, the phone number for the Foreclosure Section of the Ombudsman’s Office, Nevada Real Estate Division, is included in the Notice of Foreclosure Sale.
  • At the auction, the property can sell to the highest bidder and the association recovers all applicable amounts.
  • The debtor has 60 days to redeem the property after the sale has taken place.

*This may not be a comprehensive list; additional requirements and internal policies may apply*