When experiencing a financial hardship, the most devastating turning point can sometimes be losing one’s home to foreclosure. The state of Nevada has taken steps to try to limit the amount of homes that inevitably enter foreclosure. In 2009, Nevada adopted the Foreclosure Mediation Program as a free, completely optional program that allows Nevada homeowners the ability to negotiate alternatives to foreclosure with their mortgage lender. Since its adoption, the Foreclosure Mediation Program was only available to those homeowners whom have received a Notice of Default (NOD) on their loan, and in turn, are currently facing foreclosure. Read more about the Foreclosure Mediation Program in our blog, “Should I Sign Up For The Nevada Foreclosure Mediation Program? How Does That Help Me?”

Luckily for all Nevada residents, Foreclosure mediation is now available to homeowners as an option towards avoiding defaulting on their mortgage. Homeowners concerned that foreclosure may be imminent can now elect to participate in Foreclosure Mediation prior to receiving a Notice of Default (NOD). In order to file a petition to elect in Nevada’s Foreclosure Mediation Program one must demonstrate both of the following eligibility criteria:

• Be in imminent risk of default
• Provide a documented financial hardship

If you, or someone you know is at risk for defaulting on their mortgage or experiencing financial hardship that may lead to missed mortgage payments, it is best to act quickly and as early as possible in order to have the most options available to you. Our team can help to explore all available options and alternatives to foreclosure and discuss which may be the best choice for you. To schedule a meeting, get in touch with our office at (702) 998-1188, [email protected], or schedule a consultation online.

For additional resources on Foreclosure, it’s alternatives, and various other topics, be sure to check out our Foreclosure Defense Blog, and Foreclosure Defense TV playlist on Youtube.

DISCLAIMER: THE INFORMATION SHARED IN THIS CONTENT IS FOR GENERAL INFORMATION PURPOSES ONLY AND IS NOT, NOR IS IT INTENDED TO BE, LEGAL ADVICE. YOU SHOULD CONSULT AN ATTORNEY FOR ADVICE REGARDING THE SPECIFIC FACTS AND CIRCUMSTANCES OF YOUR INDIVIDUAL SITUATION. REVIEWING THE INFORMATION ON THIS SITE AND/OR CONTACTING US DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP. PLEASE DO NOT SEND ANY CONFIDENTIAL INFORMATION ABOUT YOUR CASE TO US UNTIL SUCH TIME AS AN ATTORNEY-CLIENT RELATIONSHIP HAS BEEN ESTABLISHED.