Homeowner Relief Program Assists Over 6,000 Nevadans - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Homeowner Relief Program Assists Over 6,000 Nevadans

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Since the Home Again Nevada Homeowner Relief Program was introduced on January 7, more than 6,060 Nevadans have contacted the designated hotline to determine their eligibility to receive assistance from one or more of the program partners. The AG's groundbreaking Home Again program came as a result of the National Mortgage Settlement, which was announced one year ago.

Nevada homeowners have received more than $1.7 billion in relief from the National Mortgage Settlement as of December 31, exceeding the projection that Nevadans were expected to receive. The third quarterly progress report, issued by the court-appointed Monitor of the National Mortgage Settlement, shows 17,768 Nevada homeowners have received assistance from the settlement from March 1 through December 31.

The benefits and assistance calculated in the report include home mortgage modifications, principal reductions, deficiency waivers, refinancing and short sale financial assistance. The report does not include the benefits and assistance finalized in January and February and does not reflect the one-time cash payments to eligible victims of foreclosure, expected to be paid out in this summer. The $1,732,608,199 in relief and assistance does not include more than $92 million in active trial modifications. Nevada's share of the National Mortgage Settlement was projected to be $1.3 billion in direct relief and assistance to Nevada homeowners.

The Home Again hotline reports indicate that roughly 40% of the callers earn less than 50% of the area median income (AMI). The average age of callers to date is 57, and 33.8% of all calls self-reported as a single adult household status. A majority of the calls received were recorded from four of the top hardest hit counties in Nevada: Clark, Nye, Lyon and Washoe. The reported zip codes that represent a majority of the calls are from 89084, 89032, 89108, 89121, 89436, 89431, and 89447.

"It is important for homeowners in Nevada to take advantage of the mortgage relief programs that are available to them," said Nevada Attorney General Catherine Cortez Masto. "While some reports indicate a positive trend in the current real estate market, there are still thousands of homeowners feeling the effects of the housing crisis as evidenced by the thousands of Nevadans who have sought assistance through both the Home Again Nevada Homeowner Relief Program."

Counseling sessions are ongoing. Due to the complex nature of cases, it may be several weeks before an outcome can be reached.

The Home Again hotline is a "single point of contact" call center designed for borrowers who are having trouble making their mortgage payments, those who need help with a loan modification or mediation, are "underwater", have lost their homes to foreclosure or households working toward homeownership. The no-fee call center is a public service from the office of the Nevada Attorney General and is available Monday through Friday from 7 a.m. to 7 p.m. Simply call 1-855-HLP-4-NEV (1-855-457-4638). Information is also available at www.HomeAgainNevada.gov. Click on the link to view the commercial: http://youtu.be/gjkVL5p0zjU.

This program is a partnership between the AG's office, Financial Guidance Center (FGC), Nevada Legal Services (NLS), and Legal Aid Center of Southern Nevada. Participating HUD approved agencies in the program include: FGC, NLS, Housing for Nevada, Women's Development Center, Community Services of Nevada, Neighborhood Housing Services, Novadebt, Springboard, and Chicanos Por La Causa.

From BRAINtrust Marketing + Communications & Office of the Attorney General

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