Mandatory Loan Mediation in Las Vegas, Nevada
One new option that could provide help to some struggling homeowners is mandatory mediation. It’s open to anyone who received a notice of default after July 1, 2009, and allows homeowners to demand a face-to-face meeting with their lender and a mediator in an attempt to compromise.
The program costs $400, which is split between the homeowner and the lender.
More than 1,000 Nevadans have submitted requests so far, but there’s still a lot of confusion regarding how this process works. The Legal Aid Center of Southern Nevada and Nevada Fair Housing will hold free classes at UNLV’s Boyd School of Law.
The first class will be held Thursday, September 17, at 5:30 pm. To register, call 386-1070 and press extension 155. There are more planned. Call the Legal Aid website for more information.
