Nevada passed a bill reestablishing the Foreclosure Mediation Program. Nevada’s Foreclosure Mediation Program was set to expire on June 30, 2017. Under the bill, the expiration date of the Foreclosure Mediation Program is removed and a permanent Foreclosure Mediation Program is established. The reestablished Foreclosure Mediation Program is substantially similar to the previous Foreclosure Mediation Program. The bill also establishes Home Means Nevada, Inc. as the mediation administrator for the Foreclosure Mediation Program. In addition, the bill: amends the required content of the “notice of default and election to sell” and the “notice of sale” under the nonjudicial foreclosure process; amends the required content of the foreclosure complaint under the judicial foreclosure process; and permits the “notice of default and election to sell” and foreclosure mediation notices to be electronically transmitted (if authorized by the receiving party). The bill went into effect June 12, 2017.
See Nevada Legislature website for the full text of the Statutes
