WSJ Talks to Tisha Black Chernine About AB 284

Foreclosure filings in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements.

Slightly more than 600 default notices were filed against homeowners through Oct. 25 in the state’s two most-populous counties, Las Vegas’s Clark County and Reno’s Washoe County. That was down from 5,360 in September, or an 88% drop, according to data tracked by, a real-estate website that tracks such filings. Default notices represent the first step in processing foreclosures.

To read the full Wall Street Journal article, click here.

Small drop in Nevada rate for troubled mortgages

By John G. Edwards

The percentage of residential mortgage loans that are delinquent in Nevada dropped a percentage point during the first quarter, but Nevada remains one of the country’s most troubled states for past-due mortgage loans and foreclosures, the Mortgage Bankers Association reported Thursday.  The delinquency rate fell 1.08 percentage points, to 10.6 percent, at the end of March, the association said.  To read the entire article, click here.

Just as it has for the past 13 quarters, Nevada continues to lead the nation in foreclosures during the first quarter of 2010.  One in every 33 Nevada housing units received a foreclosure filing which is more than four times the national average and an increase of nearly 15 percent from the previous quarter.

However, the number of Nevada houses to receive a foreclosure filing in the first quarter of 2010 was down 16 percent from the first quarter of 2009.  This decrease may be related to the success of the Nevada Foreclosure Mediation Program (NFMP) and the Making Home Affordable Program (HAMP).

The NFMP program is designed to help borrowers and lenders mediate a resolution dealing with distressed properties.  Homeowners must submit their Election of Mediation form along with a $200 fee within 30 days of receiving the Notice of Default.  Within 10 days after submission, the case is assigned to a mediator and mediations are scheduled within 80 days of the date the foreclosure notice was recorded.

The HAMP program is designed to help as many as 3 to 4 million financially struggling homeowners nationwide avoid foreclosure by modifying loans to a level that is affordable and sustainable for borrowers.  A borrower can check to see if their loan servicer is participating in HAMP by going to the Making Home Affordable website.  Borrowers are eligible for the program if they meet the following criteria:

  • The borrower is delinquent on mortgage payments or faces imminent risk of default;
  • The property is the borrower’s primary residence;
  • The mortgage originated on or before January 1, 2009; and
  • Unpaid principal balances must be no greater than $729,750 for one-unit properties.

Through March 2010, roughly 210,000 people nationwide and over 6,400 Nevadans have received permanent modifications under HAMP.

Randy M. Creighton, Esq.


The information contained on this website is designed to enable you to learn more about the services that Black & LoBello offers to its clients. These materials do not, and are not intended to, constitute legal advice, nor are they intended as a source of advertising or solicitation. Your use of this website does not create or constitute an attorney-client relationship. You should not consider these materials to be an invitation for an attorney-client relationship. Further, you should not rely on the information provided on this website without first obtaining separate legal advice.

Tisha Black Chernine awarded for
Mountain States Rising Stars 2011

Michele T. LoBello awarded for 
Nevada Super Lawyers 2007

Black & LoBello is an AV® Preeminent rated, locally owned, full service law firm in Las Vegas, Nevada.