FAST FACTS - Nevada Foreclosure Mediation Program

Complements of Cassell von Baeyer, Esq. who has provided a few fast facts from the September 10' issue of Courts, on the Nevada Foreclosure Mediation Program which I thought were very interesting.

July 1/09 to June 30/10 - Nevada Stats

1. Notices of Default for residential and commercial tallied 90,279.

2. Requests for Mediation - 11,716

3. Mediations completed - 3,860

4. Number of Mediators for state of Nevada - 270

5. Cases where agreements were made, foreclosures stopped - 3,415/88%

6. Cases where foreclosures moved forward - 445/12%

7. Homeowners that stayed in homes because of non-compliance issues in the mediation by the lenders - 1,131/33% or 29% of all mediations

8. Cases resolved by homeowners and lenders in mediations - 2,284/67%

9. Of the 2,284 mediations resolved, homeowners remaining in their homes by agreement - 1,674/73% which is 43.4% of all the mediations

10. Homeowners that agreed in mediation to vacate their homes - 610/27% which is 15.8% of all the mediations.

What we are seeing here unofficially is that the Foreclosure Mediation Program is working and for $200.00, a homeowner can submit their written request to have this mediation. This is the greatest program for the people of Nevada in home retention or negotiating a viable alternative with the lender to recycle the asset back to their ownership and allow our communities to avoid the hardships of foreclosures.

Here's the web site, check out your opportunity:

http://www.nevadajudiciary.us/index.php/foreclosuremediation

http://www.renorealestatelogic.com