It appears like Nevada courts seem to have a grip on foreclosure reality and I applaud them for stepping up for homeowners in their state. Now, it looks like many people will get a fair shot at meaningful mediation on their mortgages.
Meaning, BETTER loan modification 
!!!!
The state Supreme Court voted unanimously Tuesday to adopt rules governing confidential meetings between homeowners and lenders that could head off foreclosures.
Under the program approved by the 2009 Legislature, a homeowner who gets a foreclosure notice can request a meeting with lenders and a trained mediator. In a state with the nation’s highest foreclosure rate, that could be up to 1,500 such requests each month.
Starting Wednesday, people who get such notices can seek the mediation. Homeowners and lenders will share the costs of the mediators, with a cap of $200 assessed to each party.
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The problem is that this law only helps homeowners who have already received a Notice of Default, which provides a deeper negative rating on their credit report than just late mortgage payments. The more effective approach would be to head off the problem before it reaches that stage and allow any homeowner who has defaulted on even one payment to obtain mediation. As a long-time resident of the state of Nevada, I can honestly state that our state and federal legislators do not ever seem to have the best interest of the state’s citizens in mind. They’ve also effectively blocked self-employed homeowners from obtaining the state-asset-stated-income loans that the majority of self-employed homeowners in this state have used to purchase and refinance their homes over the last several years. We’ve had three of those loans via refinancing over the last 7 years and have paid every one of them on time. However, because my spouse and I can no longer get that type of loan in Nevada, we (along with thousands of other self-employed residents of this state) are facing potential foreclosure when our interest rate rises. Gee, thanks, Nevada legislators.