Facing Foreclosure – Knowing The Process Can Help

June 18 2009, By , 1 Comment

Many homeowners in the Reno-Sparks area are facing issues with mortgage delinquency and possibly foreclosure.  This can be a very stressful time and knowing the process and where to go for help can be very beneficial.  As a member of the Nevada Association of REALTORS Foreclosure Prevention Task Force, I have come across a very valuable tool for homeowners – “Nevada Foreclosure Information Workbook”.  This booklet was compiled by the Nevda Statewide Foreclosure Prevention Taskforce.  You can download this booklet from Nevada Department of Business and Industry’s website.  Here is a link http://foreclosurehelp.nv.gov/Brochures/ForeclosureWorkbook.pdf

The booklet covers topics like – Understanding Delinquency, Understanding Your Financial Situation, Know Your Mortgage, Know Your Options, Beware of Scams, Tools for the Homeowner, and Document Checklist for Dealing With Your Lender.  There are also definitions for many of the terms you may need to know.  There is also a list of resources. 

If you are facing issues with delinquency the best thing you can do is take a pro-active approach and educate yourself on the process.  This will enable you to have more successful results when dealing with your lender.

One Comment

  1. Heidi Oleson November 13, 2009 at 12:40 pm

    The new law passed in Nevada making mediation available and mandatory if requested by distressed property owner will slow down foreclosures and keep existing home owners in their homes longer or permanently. Mediation includes loan modification for qualified individuals, deeds in lieu of foreclosure, and short sales completion. It is a win win for the market.

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