Luckily for residents of Nevada, those facing foreclosure in the state have an opportunity to avoid it through mediation programs specifically designed for those facing foreclosure. While the mediation programs are optional, all Nevada residents are qualified to participate by law.
A foreclosure mediation essentially gives the homeowner or "borrower" and the lender a chance to present different options of settling the mortgage payments as a means of avoiding the foreclosure altogether. While it’s not guaranteed that a foreclosure will be avoided through mediation, it is strongly recommended as a way of clearly identifying all alternatives and, if nothing else, buying the homeowner more time in their home.
Read more to learn about some alternatives to foreclosure that may be presented in foreclosure mediation.
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Watch & listen as Bonnie Lonardo discusses parental rights in the video titled "Which Parent Has Custody if There is No Court Order In Place?" PLAY VIDEO | PLAY PODCAST
DID YOU KNOW? Bankruptcy Law Fact
Even if you cancel your bankruptcy before any debts are discharged, the filing may still remain on your credit report for up to 10 years. VISIT BANKRUPTCY LAW BLOG
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