1. At least 30 calendar days before recording a notice of default and election to sell pursuant to subsection 2 of NRS 107.080 or commencing a civil action for a foreclosure sale pursuant to NRS 40.430 involving a failure to make a payment required by a residential mortgage loan and at least 30 calendar days after the borrower’s default, the mortgage servicer, mortgagee or beneficiary of the deed of trust shall mail, by first-class mail, a notice addressed to the borrower at the borrower’s primary address as indicated in the records of the mortgage servicer, mortgagee or beneficiary of the deed of trust, which contains:
(a) A statement that if the borrower is:
(1) A servicemember or a dependent of a servicemember, he or she may be entitled to certain protections under the federal Servicemembers Civil Relief Act, 50 U.S.C. §§ 3901 et seq., and NRS 40.439 regarding the servicemember’s interest rate and the risk of foreclosure, and counseling for covered servicemembers that is available from Military OneSource and the United States Armed Forces Legal Assistance or any other similar agency.
(2) A federal worker, tribal worker, state worker or a household member or landlord of such a worker, he or she may be entitled to certain protections under NRS 40.4395.
(b) A summary of the borrower’s account which sets forth:
(1) The total amount of payment necessary to cure the default and reinstate the residential mortgage loan or to bring the residential mortgage loan into current status;
(2) The amount of the principal obligation under the residential mortgage loan;
(3) The date through which the borrower’s obligation under the residential mortgage loan is paid;
(4) The date of the last payment by the borrower;
(5) The current interest rate in effect for the residential mortgage loan, if the rate is effective for at least 30 calendar days;
(6) The date on which the interest rate for the residential mortgage loan may next reset or adjust, unless the rate changes more frequently than once every 30 calendar days;
(7) The amount of the prepayment fee charged under the residential mortgage loan, if any;
(8) A description of any late payment fee charged under the residential mortgage loan;
(9) A telephone number or electronic mail address that the borrower may use to obtain information concerning the residential mortgage loan; and
(10) The names, addresses, telephone numbers and Internet website addresses of one or more counseling agencies or programs approved by the United States Department of Housing and Urban Development.
(c) A statement of the facts establishing the right of the mortgage servicer, mortgagee or beneficiary of the deed of trust to cause the trustee to exercise the trustee’s power of sale pursuant to NRS 107.080 or to commence a civil action for the recovery of any debt, or for the enforcement of any right, under a residential mortgage loan that is not barred by NRS 40.430.
(d) A statement of the foreclosure prevention alternatives offered by, or through, the mortgage servicer, mortgagee or beneficiary of the deed of trust.
(e) A statement that the borrower may request:
(1) A copy of the borrower’s promissory note or other evidence of indebtedness;
(2) A copy of the borrower’s mortgage or deed of trust;
(3) A copy of any assignment, if applicable, of the borrower’s mortgage or deed of trust required to demonstrate the right of the mortgage servicer, mortgagee or beneficiary of the deed of trust to cause the trustee to exercise the trustee’s power of sale pursuant to NRS 107.080 or to commence a civil action for the recovery of any debt, or for the enforcement of any right, under a residential mortgage loan that is not barred by NRS 40.430; and
(4) A copy of the borrower’s payment history since the borrower was last less than 60 calendar days past due.
2. Unless a borrower has exhausted the process described in NRS 107.520 and 107.530 for applying for a foreclosure prevention alternative offered by, or through, the mortgage servicer, mortgagee or beneficiary of the deed of the trust, not later than 5 business days after a notice of default and election to sell is recorded pursuant to subsection 2 of NRS 107.080 or a civil action for the recovery of any debt, or for the enforcement of any right, under a residential mortgage loan that is not barred by NRS 40.430 is commenced, the mortgage servicer, mortgagee or beneficiary of the deed of trust that offers one or more foreclosure prevention alternatives must send to the borrower a written statement:
(a) That the borrower may be evaluated for a foreclosure prevention alternative or, if applicable, foreclosure prevention alternatives;
(b) Whether a complete application is required to be submitted by the borrower if the borrower wants to be considered for a foreclosure prevention alternative; and
(c) Of the means and process by which a borrower may obtain an application for a foreclosure prevention alternative.
3. As used in this section:
(a) "Federal worker" has the meaning ascribed to it in NRS 40.002.
(b) "Household member" has the meaning ascribed to it in NRS 40.0025.
(c) "State worker" has the meaning ascribed to it in NRS 40.004.
(d) "Tribal worker" has the meaning ascribed to it in NRS 40.0045.
(Added to NRS by 2013, 2186; A 2017, 1117; 2019, 3182)