Nevada Homeowners Can Now Request Foreclosure Mediation. Since July 1, 2009, a homeowner in Nevada who has received a notice of foreclosure can request mandatory mediation with their mortgage lender in an effort to negotiate a loan modification. The Nevada legislature recognized that the high rate of foreclosure is a problem faced not just by individual homeowners, but by our economy as a whole. They realized that a lot of foreclosures could be avoided, and a lot of loan modifications negotiated, if homeowners and lenders could just have a chance to sit down and talk together. Homeowners who have received a foreclosure notice "Notice of Default and Election to Sell" can request a face-to-face meeting with their mortgage lender, assisted by a trained mediator, in an effort to find an alternative to foreclosure such as a loan modification. A homeowner has 30 days to request foreclosure mediation. The 30-day period begins the day the foreclosure notice is received. The homeowner must notify the trustee (which is usually the title company) by sending in the foreclosure mediation request form. You can get a copy of the foreclosure mediation request form at the Nevada Supreme Court's website: http://www.nevadajudiciary.us/index.php/foreclosuremediation or contact our office and schedule an appointment with one of our attorneys today who can help you submit the election form.
After the trustee has been notified of the homeowner's request, the foreclosure is stayed (i.e., temporarily stopped) for 90 days from the date of the foreclosure notice. Once the State of Nevada Foreclosure Mediation Program Administrator assigns a mediator, you will be notified of the mediation date and will need to submit several documents and financial information to both the lender and the mediator. There are deadlines to meet, so do not delay, call our office today so we can help you take advantage of the Foreclosure Mediation Process. We will help you complete the paperwork to elect for mediation, submit all necessary documents, and advocate for you at the mediation. We charge competitive fees and you will always be represented by an Attorney, not a paralegal or a "loan modification consultant". The Deaner Law firm is committed to helping you save your home.