What is the Nevada Foreclosure Mediation Program (“NFMP”)?
The NFMP is a court-annexed mediation program enacted by the Nevada State Legislature on July 1, 2009 to assist Nevada homeowners in foreclosure. A homeowner who has received a Notice of Default has thirty (30) days to elect into the NFMP. The NFMP is designed to provide an opportunity for homeowners to sit at the same table with lenders and a mediator to negotiate a loan modification, short sale or other action in order to avoid a foreclosure of a homeowner’s principal residence. If a homeowner has not been time-barred from entering the NFMP, they should file.
