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Monthly Archives: June 2009
The 30 Day Deadline to Elect Foreclosure Mediation
The Supreme Court of Nevada in its June 30, 2009 adoption of the Rules, sets forth its version of the 30 day time limit for the Homeowner to elect mediation as follows: Rule 5(4). “The mediation process under these rules … Continue reading
Buying and Bailing in Vegas
THE PARTYLucky owned a condo in Las Vegas which he bought in 2005, and financed with a $220,000 loan. He paid $1,800 a month against the mortgage. He made good money as a health care worker at one of the … Continue reading
Strategic Default- When Homeowners Run Away From Their House
Why Some Homeowners Choose to Abandon While the Obama administration’s housing policy has been largely influenced by a study of the Boston housing market during the 1990-91 recession in which homes devalued by approximately 10 percent, new research suggests that … Continue reading
Vegas Foreclosure Mediation is a Push for the Bank and Homeowner
THE FOLLOWING STORY NEVER HAPPENED IN VEGAS The Vegas famly has owned a home in Las Vegas for 4 years, and live with their 3 children. Mr. Vegas is a residential new home electrician, and had his hours cut last … Continue reading
Why Many Mediations Will Result in the Homeowner Transferring Title and Possession to the Bank
ADIOS A SU CASA I am not sure that the ultimate result at a foreclosure mediation will be what the Supreme Court envisions, said an attorney to the Nevada Supreme Court yesterday. Chief Justice Jim Hardesty replied that they don’t … Continue reading
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Supreme Court Hearing on Nevada Foreclosure Mediation
I just returned from attending a public hearing where the Nevada Supreme Court entertained questions and comments from a variety of people in the audience regarding the new Mandatory Foreclosure Mediation Law. Barbara Buckley, the Assembly Speaker who authored the … Continue reading
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S.896 Helping Families Save Their Homes Act of 2009
This bill protects one of the innocent victims of the foreclosure crisis—the families who, after paying their rent each month, are suddenly told they must move out of their homes because their landlord has gone into foreclosure. For tenants of … Continue reading
How to Legally Stop Or Delay a Foreclosure Sale
If a homeowner is in Default, and feels the pressure of the eventual sale of her home, what are some of the things she can do to relieve that pressure prior to the sale? – Do nothing. – Cure the … Continue reading
Obama’s Making Home Affordable Won’t Work in Nevada
Only 17 (yes, 17) Nevada homeowners have been deemed candidates for Obama’s Making Home Affordable Refinance Plan passed into law last February. According to an article in the Las Vegas Sun, Democratic Rep. Dina Titus, who had asked the administration … Continue reading
Nevada Foreclosure Mediation CLE Course
I just returned today from attending a foreclosure mediation Continuing Legal Education Course this morning at the BofA building in downtown Las Vegas. I get 3.5 units of Credit including .5 of “Ethics” towards my mandatory 12 units required to … Continue reading
