Nevada Revises Foreclosure Mediation Rules

New Rules Clarifying and Simplifying Nevada’s Foreclosure Mediation Process

Mortgageorb
February 21, 2011

Amidst concerns about lenders participating in “bad faith” during mediation, the Nevada Supreme Court recently clarified the foreclosure mediation program rules. Included in the changes are an expanded time period to file a petition for judicial review as well as a more simplified process to terminate a mediator.

Constant change, evaluation, and reflection is needed to create a mediation foreclosure program that best serves the needs of homeowners and lenders. The court’s decision to create a committee that will continually provide program recommendations to the Nevada Supreme Court will help meet this need.

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