AIR DATE: January 3, 2011
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More than 4,000 mortgage mediations have been processed since the 2009 Nevada Legislature created a program to force banks and homeowners to meet to discuss troublesome mortgages. Foreclosures continue to dominate the housing market in Las Vegas but the program sees that number as a measure of its success. Some mediators, though, are still critical of the way the rules of the program are enforced and say that they do not have the tools to do the job properly. Now the Nevada Supreme Court is changing the program's rules, and there is no consensus about whether the changes are good or bad. So is the mortgage mediation program succeeding or not?
Barbara Buckley, Executive Director, Legal Aid Center of Southern Nevada
Verise Campbell, Administrator, Mortgage Mediation Program
Phil Olsen, Attorney and Mortgage Mediator