how long does the foreclosure process normally takes?

I have a first and second mortgage (to avoid PMI) and I am wondering if, after foreclosure, if we are going to be liable finacially for the banks loss, or the difference between our loan balance and what they get in the foreclosure sale? I know that our credit score will be affected, but I am wondering if that is the only repercussion? I also know the laws are different in states I am in Nevada anyone that knows the nevada foreclosure law specifically would be great. I am also wondering once we move out, assuming we do so before notice to evict what role will we, as the homeowners, need to play in the foreclosure process? I have heard that you must fill out a 1099 form for taxes? saying the difference between the amount owed and what the bank gets is roughly 30,000 what would that mean we pay at tax time?

this would be for 2years this would give homeowners some extra cash too keep their homes what do you think?

A friend of mine told that this was true in Texas where we live. She said that the buy the house from the mortgage holder and lease it back to the home owner with the option to purchase it back typically within a year. She says this allows the home owner to reestablish their credit score. Is this true.

this person was injured on the job in new jersey and back was operated on twice and than given unemployment status when workers comp ran out. Is able to work but not at that previouse job.

i can become current, with mortgage and late fees in month three. will that end the foreclosure and prevent me from losing the house?

We are in foreclosure and filed bankruptcy. In the past few days we have gotten letters stating that they can help stop foreclosure by working toward buying our home. Is this a big scam? What is really upsetting on the envelopes they mention in bold letters things about stopping foreclosure.