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Omaha is the largest city in Nebraska and in 2009 had an estimated population of 450,000. It is set on ...
The beautiful state of Nebraska is located in the upper region of North America and has a population of just 1,826,241 people. Covering a landmass of over 77 thousand square miles, Nebraska is the 16th largest state in the United States. The state's major cities include: Lincoln, Grand Island, Fremont, Kearney, North Platte, Bellevue and Nebraska's capital city Omaha, which is the state's most populated city. Omaha's demographics consist of predominantly married couples, which account for just over half of the city's relationship statuses. The median income for most households consists of just above $40,000, with the number of homes with children ranking at 27.4 percent, just over a quarter of total households. The housing market is currently strong with prospective Nebraska home foreclosures in abundance. The current median listing price sits at $135,000, with the total amount of Nebraska foreclosures accounting for just 2.5 percent of all real estate sales.
The state's economy thrives on its livestock production; Nebraska is known far and wide for its livestock industry. The agricultural industry's revenue is largely generated due to its livestock, although the exporting of chicken, eggs and dairy products also contributes to it. Besides agriculture, Nebraska also dabbles in food processing; things like canned goods, meat products, bakery products and dairy items churn out of Nebraska’s food processing plants. Machinery is regularly produced in Nebraska, which includes items such as medical equipment, farm equipment and telecommunications equipment. The mining industry generates strong profits from the mining of petroleum, gravel, clay and sand. These resources provide an array of materials for many other sectors of the economy, with the construction industry being the most predominant of all.
The state's geography is split up into many regions and is composed a wide array of flatland areas interchanged with sweeping mountain ranges. The Dissected Till Plains runs across the eastern region of Nebraska, which is filled with many rolling hills and several fields that produce many of the state's most important crops, such as corn and soybeans. In fact, the Great Plains of Nebraska is located on the western side of the state, while a large region of sand dunes is located in the center of Nebraska. This area encompasses nearly 20,000 square miles and is considered one of the largest in North America.
In Nebraska, a lender must obtain a court ruling in order to pursue foreclosure against a borrower (homeowner) who has defaulted on their mortgage payments. This is known as a judicial foreclosure, and it is the only kind of foreclosure allowed under Nebraska foreclosure law.
The process begins when a lender files a complaint with the county court concerning a homeowner's loan default status. The court then has the power to rule against the homeowner and demand that they pay the amount owed in a short period of time. If the homeowner does not provide payment, the court clerk schedules a foreclosure sale. The homeowner may stop the process of foreclosure at any point up until the sale by paying off the default amount plus any additional fees owed.
The county sheriff, who is also in charge of conducting the foreclosure auction on the sale date, must issue a notice of sale within a certain amount of time before the sale is to occur. The homeowner can petition the court to delay the sale for up to nine months, but this must be done within 20 days of the initial ruling. The sheriff then is encouraged to place a notice of sale in at least five public places, including the courthouse door. He must also arrange to have the notice of sale published for four weeks directly prior to the sale in a local weekly newspaper.
Once a winner has been determined at the foreclosure auction and a payment plan has been arranged, a court hearing is scheduled in order to confirm the sale. Once the sale is confirmed, the winning bidder receives full ownership of the property.
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