Nevada Mediation Program Rules Announced

New Recording Fee for NOD’s Also Announced

On July 1, 2009, the Nevada Foreclosure Mediation Program becomes effective along with the new recording fee for Notices of Default and Election to Sale.

The information for the final rules adopted by the Nevada Supreme Court, governing the Foreclosure Mediation Program can be found on the Nevada Judiciary’s website.

AB 149, which has been signed into law, provides for mediations in foreclosures commenced on or after July 1, 2009, as a way “to help homeowners find alternatives to losing their home,” according to the Nevada Judiciary’s website. “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.” The State Supreme Court was tasked with establishing the rules under which the program will function and the Court has now published those rules.
Read the rules

The new recording fee for Notices of Default and Election to Sale, established by Assembly Bill 65 is Fifty Dollars ($50.00). This $50 filing fee is an additional $50 fee above what was already being levied.

Read an informational brochure announcing the new recording fee for the Notice of Default and instructions for the individuals recording the notices involved in the new foreclosure procedures instituted by AB149.

Read the Election/Waiver of Mediation Form to be served with the Notice of Default and Election to Sale is also included.