Under Nevada law, before a lender can foreclose on a homeowner’s primary residence, it must allow the homeowner to participate in Nevada’s Foreclosure Mediation Program. The Nevada Foreclosure Mediation Program requires lenders to meet with homeowners and a licensed Nevada mediator for up to 4 hours to negotiate an alternative to foreclosure, including loan modifications and short sales. To comply with the program’s rules, lenders must act in good faith and an individual authorizes to make decisions for the lender must be available during the mediation. If lenders fail to comply with Nevada’s foreclosure mediation rules, they will not be allowed to complete their foreclosure of your home.
At The Schwartz Law Firm, our lawyers are skilled negotiators and are knowledgeable of the mediation process and rules. We will help you decide whether Nevada’s Foreclosure Mediation program is a good alternative for you.
A loan modification in Las Vegas, which we pursue in Nevada through the state’s mediation program, is a change to one or more of the terms of an existing loan, such as an interest rate reduction, loan term extension, a complete loan program change, or a combination of the foregoing. Loan modifications can be very beneficial to homeowners who can longer afford their mortgage payments due to hardship and insolvency. Consumers who try to get agreements by themselves, however, may be disappointed.
At The Schwartz Law Firm we prepare the appropriate documents and negotiate loan modifications, generally through Nevada’s foreclosure mediation program. Our lawyers have the knowledge required to present a strong case for modifying a loan in Las Vegas. Our experience with foreclosures, bankruptcies and short sales gives us the ability to help clients stay in their homes.
Advantages of Loan Modifications Las Vegas
A loan modification can accomplish the following for homeowners who find themselves behind on their mortgage payments and facing the possibility of foreclosure:
Homeowners facing a mortgage default or considering short sales may be good candidates for loan modifications. A loan modification can stop foreclosure and ultimately protect the homeowner’s credit rating. Our lawyers advise clients about other options such as forbearance agreements and help them decide whether a loan modification is the right choice for their situation.
Lenders look for evidence of the homeowner’s ability to make payments after the loan is modified. That is why our attorneys will help clients gather documents that show assets and income. Banks and other lenders also want evidence of hardship. Our law firm helps clients demonstrate such circumstances as divorce or separation, job loss, death of a spouse, illness, relocation, and military service, to name a few.
At The Schwartz Law Firm, we will assess your unique financial situation, ask the right questions and explain the legal and financial alternatives available in clear and understandable language. Contact us to learn how we can help with loan modifications.
We have Spanish-speaking staff to assist those who communicate best in Spanish.
"Since the first day we met you, you have taken the pressure from us and guided us through this whole foreign process. Sam and Brian are wonderful and I think that trickles down into the rest of the office staff. I cannot say enough about your law firm and the people in it!!! You were right about everything. Brian was so on it yesterday. I was saying a little prayer the whole time but he is wonderful as well and reassured us everything was going to be ok. He just guided us along, so we knew what to expect."
- Shawn R.
"Schwartz Law firm did an incredible job of handling the sale of our home. They handled our biggest fear of managing the negotiation with the big bank, and simplified what could have been a frightening process for our family. Without their help, I do not believe we would have been able to negotiate the sale of our house in this economic environment. No one should try a workout directly with a bank without their help."
- Bob D.
"I just wanted to say THANK YOU for all of your hard work, organization and vast knowledge in helping us with our bankruptcy. I know we are not completely done yet but I did not want you to go on leave without letting you know what a wonderful help you have been. You are so calm and patient and make us feel like we are the only client you are working on. Your whole office is incredible."
- Shawna R.