Publication
Financial Services Litigation Bulletin-November 2009
The Nevada Legislature has enacted Assembly Bill 149 to provide for judicially administered mediation between residential mortgage lenders and owners of owner-occupied residences with the objective of reaching loan modification agreements in the event of default. The Nevada Supreme Court adopted rules, effective July 31, 2009, to implement A.B. 149 and create the Foreclosure Mediation Program. Foreclosure mediation applies only to the foreclosure of an owner-occupied residence located in the State of Nevada when the notice of default and election to sell is recorded on or after July 1, 2009.
For highlights of the Foreclosure Mediation Program, click here.
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 17 locations throughout the United States and in Mexico, including Phoenix and Tucson, Arizona; Los Angeles, Orange County, Palo Alto and San Diego, California; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno-Tahoe, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
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