Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Bankruptcy rules and foreclosing on a house? - I live in Nevada. My husband and I are talking about foreclosing on our house. It is approximately $150,000 upside down. It will never recover. The neighbors are moving and soon we feel that our little neighborhood will be gone. So, we are considering jumping ship too. I heard that in Nevada, the banks have 7 years to come after you for the difference of your loan versus what they get at auction. Is that true? Do we need to claim bankruptcy to avoid this? How long after can we buy another house? -
