| Nevada Supreme Court Seeks Comment On Foreclosure Mediation Rules |
| Wednesday, 10 June 2009 15:04 | |||
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PUBLIC HEARINGS SCHEDULED Nevada Supreme Court Seeks Comment On Foreclosure Mediation Rules The Nevada Supreme Court is inviting public comment on proposed rules governing the Foreclosure Mediation Program that is being established as a result of a new law passed by the 2009 Nevada Legislature. AB-149, passed shortly before the end of the session, provides for mediations in foreclosures commenced on or after July 1, 2009, as a way to help home owners forestall the loss of their houses. A homeowner who receives a foreclosure notice can request an opportunity to sit down with the lenders and a trained mediator and explore whether a mutually agreeable resolution can be reached. Two public hearings about the proposed rules have been scheduled – one in Carson City and one in Las Vegas – to give those with an interest in the Foreclosure Mediation Program opportunities to voice their opinions. The Court also will be accepting written comments as the justices go through the difficult process of creating procedures for the legislatively-mandated program. The deadline for submitting written comments (original and eight copies) is June 22, 2009. To access the petition and draft rules, CLICK HERE . “I believe that through this new law and our mediations, we are going to save some homes and help ease the burden for some lenders,” Chief Justice James W. Hardesty said. “Too many Nevadans are losing their homes to foreclosure.” The Supreme Court has been working to expedite the mediation program since before its passage and the quick setting of public hearings will facilitate the process. “We knew that the bill likely would pass and we knew that the time frame would be short for creating a system to handle what may be an overwhelming number of cases,” Chief Justice Hardesty said. “The Supreme Court proactively took steps to prepare for what is now a reality.” The Carson City hearing is scheduled for Tuesday, June 16, 2009, at 4 p.m. in the Supreme Court courtroom. It will be videoconferenced to the Supreme Court’s Las Vegas courtroom at the Regional Justice Center. The Justices will conduct the second hearing on Friday, June 26, 2009, at noon in their Las Vegas courtroom. That hearing will be videoconferenced to the Supreme Court courtroom in Carson City. Persons wishing to address the Justices may do so from either location. It is anticipated that the Supreme Court will vote on the new rules by June 29, making them effective a month later. The Supreme Court rules are expected to ensure that mediations occur in a timely manner, that mediators have sufficient information from the parties, and that the mediation process is not abused. In addition to rules, the Supreme Court is creating forms that will make it easier for the parties to access and navigate through the mediation process. “Essential information will be readily available on the Supreme Court website,” Chief Justice Hardesty said. He noted, however, that mediation will not be the solution for everyone and some homes inevitably will be lost to foreclosure. AB-149 only affects owner-occupied housing and currently will apply only to foreclosures filed on or after July 1, 2009. The bill gives borrowers the right to seek mediation of a mortgage loan once a foreclosure has been filed. The Chief Justice emphasized that the foreclosure mediation program is self funded through fees and will not require the expenditure of any taxpayer dollars. Under the proposed rules, homeowners and lenders will share the costs for the mediators, with a maximum $200 assessed to each party. Chief Justice Hardesty said more than 350 attorneys already have offered to be mediators, but they will require training. Initially, senior judges and Supreme Court settlement judges will carry the workload. An administrator, a coordinator, and a budget clerk will be hired in the next few weeks to staff the program. Chief Justice Hardesty said that finding facilities in which to conduct the mediations will be another task for the judiciary.
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| Last Updated on Wednesday, 10 June 2009 15:07 |
