Reno Foreclosure Blog

The regulation requires a $400 mediation fee to be split by the home owner requesting the mediation and the Lender. Each pay $200.

UPDATES to the mediation regulations

Supreme Court Appoints 75 New Mediators To Foreclosure Mediation Program Friday, 11 December 2009 10:57 Appointees to be Sworn In Friday in Las Vegas, Carson City The Nevada Supreme Court has appointed 75 new mediators to the Nevada Foreclosure Mediation Program, nearly doubling the number available to help homeowners and lenders in the state with the nation’s highest foreclosure rate. Read more...

More than 3,400 Requests for Mediation Received by Foreclosure Mediation Program Wednesday, 02 December 2009 15:07 Nearly 80 New Mediators to be Added Since the Nevada Foreclosure Mediation Program began on July 1, more than 3,400 homeowners who received notices of default have requested mediation as they seek to hold on to their homes. Three hundred seventy-two 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. Homeowners who receive Notices of Default and Election to Sell have 30 days from the day they received their notice to seek mediation under the program that was created by the Nevada Legislature and made effective on July 1, 2009. The statistics are current as of Nov. 16, said Nevada Supreme Court Chief Justice James W. Hardesty. In the first four months of the program (July through October), 29,242 notices of default have been filed, but that figure includes commercial and non-owner-occupied properties that are not eligible for the Foreclosure Mediation Program. “Processing more than 3,400 requests for mediation is a significant task, but we will accommodate those homeowners as expeditiously as possible,” said Chief Justice James W. Hardesty. “The Foreclosure Mediation Program is still at an early point in its operation and the staff is working diligently to ensure compliance with the statute and court rules.” “The program’s computerized case management system is just being brought on line so the staff is still working with stacks and stacks of paper, which is very time consuming,” Chief Justice Hardesty said. Currently, the Foreclosure Mediation Program has 95 mediators have been appointed by the Supreme Court, but about 80 more are expected to be added in the next few weeks. Fifty-eight potential mediators went through training last week in Reno and Las Vegas. Twenty-seven received two-day mediation and foreclosure training in Reno and 31 went through similar training in Las Vegas. Another 20 potential mediators will receive the training on Dec. 1 and 2 in Las Vegas. The Supreme Court will appoint new mediators from the lists of those trained. Notices of Default filed: 29,242 (July through October) Requests for mediation: 3,446 Mediations conducted: 372 Mediations scheduled: 805 Cases processed and ready for mediations to be scheduled 1,402 (All statistics beginning July 1 and as of Nov. 16 unless noted)