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New Rules for the Mortgage Mediation Program
New Rules for the Mortgage Mediation Program

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AIR DATE: February 29, 2012

The Nevada Supreme Court will consider adding more requirements for banks in the Mortgage Mediation Program. The rules would require banks to disclose the price they paid if they bought a mortgage at a discount because the owner wanted to unload it. Sometimes, this could be as little as 5 cents in the dollar on the value of the note. So what impact would that have? Would it speed up and improve the mediation program or set up unrealistic expectations on what banks would be willing and able to cut off the mortgage's principal?
 
GUEST
Barbara Buckley, Exec Dir, Legal Aid Center of Southern Nevada
Bill Uffelman, Exec Dir, Nevada Bankers' Association

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COMMENTS:
Bill Uffleman is making excuses for banks mortgage and investment practices. His statements indicate he thinks we as homeowners are brain dead. When people make bad investments we are responsible. when banks and investment groups associated with banks make bad investments they hold homeowners responsible. Its robbery, theivery, at its worst!
NickFeb 28, 2012 20:30:02 PM
I signed up for the Foreclosure Mediation Program and paid $200 required fee. However, I managed to get my loan modified through NACA without attending the mediation program. I called the law office that i was supposed to appear for the mediation and informed them that i have settled the dispute and my intention to cancel the sheduled appointment I contacted the mediation program office to have the $200 back but in vain. I was transferred to so many phone numbers unsuccessfully. What should I do to get back for I did
Eyob TadesseFeb 28, 2012 09:40:16 AM
None
James SaintFeb 28, 2012 09:01:55 AM
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