Nevada Supreme Court Justice James W. Hardesty announced that more than 3,400 homeowners who received notices of default have requested mediation in the Nevada Foreclosure Mediation Program as they seek to hold on to their homes. Since the program first began on July 1, 2009, 372 mediations have been conducted and another 805 mediations have been scheduled. An additional 1,401 cases have been assigned to mediators, who are working to schedule and hold those mediations within 90 days of the notices of default being recorded. Justice Hardesty announced that the statistics are current as of November 16, 2009
Important Note to Homeowners: If you receive a “Notice of Default and Election to Sell,” you must sign the application form and mail it with $200.00 in certified funds within 30 days from the day you receive your notice to seek mediation. You should receive two copies of the application form. Sign both and mail them in the supplied envelopes. Mail one copy of the application and your $200.00 certified funds using the supplied envelope addressed to the Nevada Foreclosure Mediation Program Office. If you do not receive any application forms or envelopes, contact the Foreclosure Mediation Program
Currently, the Foreclosure Mediation Program has 95 mediators who have been appointed by the Supreme Court. Those mediators have all been through rigorous training designed to teach the mediators the intricacies of the mortgage loan and foreclosure process and some mediation techniques. Another 80 mediators have been trained recently and the Supreme Court will select from the list of those who successfully completed the training.
Justice Hardesty provided the following statistics regarding the program:
(All statistics beginning July 1, 2009, and as of November 16, 2009 unless noted)
Carlos L. McDade, Esq.