Nevada Foreclosure Help

Nevada Shuts Down 26 Modification Companies For Non-Compliance

Division calls for shutdown of 26 mortgage modifiers

By JOHN G. EDWARDS
LAS VEGAS REVIEW-JOURNAL

The Nevada Mortgage Lending Division said Monday that it is ordering 26 residential mortgage loan modification consultant companies to close and refund unearned payments from customers.

Another 18 firms are allowed to continue working while their licenses are processed.

Law firm Frederickson, Mazeika & Grant is the only firm that has obtained a license.

The division is forcing companies to close if they failed to obtain a $75,000 surety bond required by a new state law.

The Nevada Legislature this year enacted a law requiring licenses and bonds for loan modification companies…

 http://www.lvrj.com/business/agency-closes-alterers-of-loans-68833992.html

Nevada Foreclosure Help

Nevada Lawyers Under Fire For Foreclosure Mediation Practices

Brian Wargo of the Las Vegas Sun wrote an interesting article in Friday’s edition about Nevada’s new mediation law for people facing foreclosure.

The Nevada legal community is getting behind a new mediation program designed to reduce the state’s ongoing foreclosure problem, but some attorneys are facing criticism for trying to profit from it.

As of July 1, homeowners who receive notices of default from their lenders have 30 days to seek mediation. So far, more than 450 homeowners have requested mediation, which could begin by late August or early September, said Bill Gang, spokesman for the Nevada Supreme Court, which is overseeing the program.

http://www.lasvegassun.com/news/2009/aug/21/foreclosure-filings-catch-flak/