Poor Little Nevada-

We are just getting whipped here in Nevada with the highest unemployment rate in the country at whopping 25%. This reflects poorly or accurately on the state of our deteriating real estate market with about one in four homes going into the no zone.

What is particularly interesting to me is that we have one of the most powerful Foreclosure Mediation Programs in the nation which very few people are utilizing. I am preaching again about this program but I have seen the results of having a safety net like this and I am telling you folks, if you get an Notice of Default or commonly referred to as a NOD, you should protect your rights and file for the mediation.

What can happen in a short time is that you will be scheduled for a Mediation where you will actually have the opportunity to meet with either a representative or attorney for the lender and work on a modification of the loan to keep you from loosing it.

If you decide that a modification is not worth your time and just want to let the house go, file for the Mediation because you can actually gain an approval here for a short sale, deed-in-lieu or cash for keys, etc.

All of these alternatives are available to those people who want to do a work out but not retain the home. It’s the right thing to do, protect your community from the blight of what a foreclosure looks like on your street as well as the declining value this one property can bring to the entire neighborhood.

Check out the program http://www.nevadajudiciary.us/index.php/foreclosuremediation

www.renorealestatelogic.com