Nevada Supreme Court to Weigh Amendments to Foreclosure Mediation Program

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FORECLOSURE MEDIATION RULES WILL BE AMENDED

The Nevada Supreme Court will consider amendments to the rules governing the Nevada Foreclosure Mediation Program at a public hearing at 4 p.m. Tuesday, March 16 according to the Las Vegas Sun.

The meeting will be based in Carson City but will be available through teleconference in the court’s Las Vegas courtroom on the 17th floor of the Regional Justice Center, 200 Lewis St.

“With the Foreclosure Mediation Program now in its eighth month of operation, we have determined that some additional rule changes are necessary to make the process more efficient and responsive, to benefit both the homeowner and the lender,” Chief Justice Ron Parraguirre said.

This will be the third set of rule changes since the program was enacted last July 1.

“We always anticipated that periodic rule changes would be necessary because the program is such a new and innovative concept and so far reaching,” Parraguirre said. “The goal of the Supreme Court is to make sure the program works for those who need it – both homeowners and lenders.”

The proposed rule changes were recommended by the program’s 12-member rules committee, composed of representatives of the lenders and homeowners, two Supreme Court justices and court staff involved with the program.

The proposed changes would:

* Extend timelines for mediations to occur from 90 days to 135 days after a lender fee is received by the program;

* Streamline the system so program certificates are not required for the sales of non-owner-occupied housing;

* Ensure that legal representatives for either the homeowner or lender are licensed Nevada attorneys;

* Allow broker’s price opinion letters in lieu of appraisals;

* Limit mediators to no more than three mediations in a day without express permission;

* Allow a second mediation if a lender does not make a temporary; modification permanent after a homeowner fulfills all obligations of that agreement, and;

* Permit postponements in mediations if the parties and the mediator agree

Anyone interested in addressing the justices is encouraged to contact the court clerk at 486-9300 by March 12.

Written comments are also invited by the Supreme Court. An original and eight copies must be submitted by March 12 to Tracie Lindeman, Clerk of the Supreme Court, 201 S. Carson St., Carson City, NV 89701.

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