Continuing update on new Nevada Legislation for homeowners. Did you know that banks, lenders, financial institutions and their employees cannot unreasonably delay a response to an offer for a sale in lieu of foreclosure sale on a residential property? A response that is not made within 90 days of the offer is presumptively unreasonable. Of course, a homeowner can agree to give the lender additional time, in writing, if so desired. This new protection for homeowners is found in Senate Bill 414 which became effective on June 15, 2011.