Mortgage Modification Mediation
If you have an Existing Chapter 13 Bankruptcy – even if you are NOT in default on your home – this applies to you.
Effective January 1, 2015 the Nevada Bankruptcy Court is offering a Mortgage Modification Program
FINALLY – time restrictions, clarity and accountability are guaranteed for your loan modification. The United States Bankruptcy Court for the Southern District of Nevada has adopted uniform procedures for its Mortgage Modification Mediation (MMM) Program. This program applies to all bankruptcy Chapter 13 and all types of real property, commercial and residential. MMM has streamlined the modification process to reduce costs, save time, and make it easier for the parties to facilitate a loan modification.
Your loan modification must be completed in 150 days! No more waiting for years to get a decision on your loan modification.
The parties are required to participate in MMM in good faith and may be subject to possible sanctions by the court for violation of this requirement.
Your chapter 13 trustee will be paying your mortgage if a modification is granted and will ensure all payments to mortgage servicer are properly accounted for.
There will be centralized location for all documents which will contain a complete of all of the mortgage servicers’ loan modification requirements. Default Mitigation Management LLC (DMM), is the court approved portal provider. This will provide the clarity and accountability for the loan modification process.
If you are interested in this program, you must act now. Since you are in an existing chapter 13, you will only have 90 days from January 1, 2015 to apply for the program. Call us today to schedule your consultation!
If you’d like to discuss this exciting new program, please contact us at (702) 830-7784 ext. 222, or email us at firstname.lastname@example.org.