Helping You Understand the Changes to Nevada Foreclosure Law
The foreclosure laws in Nevada were recently amended to protect consumers who default on mortgage payments. To understand these changes, and how they may affect you, please contact a lawyer at The Schwartz Law Firm, Inc., in Las Vegas.
Some of the Changes to Nevada Foreclosure Law
Mandatory Mediation: Starting July 1st, 2009, any lender who files a notice of default against your home must engage in negotiations with homeowners who request a formal mediation. This process allows you and your lender to sit down and try to work out a solution that may allow you to keep your home.
Longer Cure Period: Under the former law, when a person received a notice of default, he or she had 35 days to bring the loan payments up-to-date. This "cure period" has been extended to 85 days. Lenders must accept payments that bring the loan current during this period.
Lenders Must Produce the Original Paperwork: Lenders are required to bring all original loan paperwork to mediation with the homeowner. Some lenders cannot produce the original paperwork, which may provide you with leverage to negotiate a loan modification or repayment plan if you are behind on your mortgage.
Taking Action to Apply the Law
At The Schwartz Law Firm, we are zealous advocates for homeowners facing foreclosure. We will aggressively protect your rights under the Nevada foreclosure laws and assert your interests when dealing with lenders.
To learn more about recent changes to the Nevada foreclosure law and other legislation regarding mortgage financing and debt relief, contact the attorneys at The Schwartz Law Firm today. We provide clients with legal options to help secure their financial future.
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