Is the Nevada Foreclosure Mediation Program working for Las Vegas residents?
The answer is a clear “yes.”
We’ve already helped numerous homeowners reduce their mortgage payments and keep their homes. And a recent article on KVBC News 3’s website supports our experience.
Nevada’s Foreclosure Mediation Program–the strongest such program in the U.S.–gives Nevada homeowners who receive a foreclosure notice the opportunity to request a mandatory mediation session with a representative from their mortgage company as well as a neutral foreclosure mediator. (Plus homeowners typically bring their own lawyer to the session.)
Just 6 months into the program approximately 3,300 requests for foreclosure mediation have poured in. And judges, lawyers, mediators and Program Director Verise Campbell all say the program is definitely succeeding. One lawyer mentions that he’s worked on about 40 cases and that about 2/3 of those have resulted in the owner keeping their home.
Haines & Krieger has experienced similar results, keeping most foreclosure mediation clients in their homes and saving them thousands of dollars.
Most mediation sessions take about 4 hours. And, given Congress’ failure to pass mortgage cramdown legislation, Nevada’s Foreclosure Mediation Program is the most powerful tool that Las Vegas homeowners have to protect themselves and their homes.
Help Stop Foreclosure Las Vegas
They key to stopping foreclosure, especially in Las Vegas, is having good Las Vegas banruptcy attorneys who are experienced with the ins and outs of the foreclosure process and the mortgage industry.
For the best Las Vegas bankruptcy information and foreclosure information, contact us for a free foreclosure consultation. We’ll help make sure you get the full benefit of the laws that were created to protect you as a citizen of America and of Nevada.
Haines & Krieger has been very involved with and paying close attention to the Nevada Foreclosure Mediation Program.