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Nevada Foreclosure Laws Video #4

Mediation Video #5 Petition for Judicial Review

Filing A Verified Petition For Judicial Review

Hi, I’m Nevada foreclosure consultant Damian Falcone and this is part 4 of the Falcon Credit Management Nevada Foreclosure Mediation Program video series.  In part 3 we talked about what happens during the foreclosure mediation and what documents the lender must bring to qualify as participating in good faith according to Nevada foreclosure laws. Today we are going to talk about what options are available to you if the requirements for a good faith mediation weren’t met according to the Nevada foreclosure laws.

This is Get Modified! The go to source for loan modification and foreclosure prevention information.  As always for more information, go to www.falconcreditmanagement.com

In the event you feel your Nevada Foreclosure Mediation was not conducted in good faith according to the Nevada foreclosure laws, you will want to consider filing a Verified Petition for Judicial Review.   This gives a District Court Judge the opportunity to review the proceedings of the Nevada Foreclosure Mediation Program and determine if the mediation was done in Good Faith under Nevada Foreclosure Laws.

Before we discuss the procedure for filing the Petition which we will do in the next video, I want to explain a little bit about what constitutes bad faith.   The Petition for Judicial Review is not designed for those who are simply unhappy with the offer that was made at the Nevada Foreclosure Mediation.   For example, though 31% is seen by many as a responsible amount of your gross income to allocate to a mortgage, no one is obligated to give you an offer at 31%, and the failure to do so does not constitute bad faith.  Judicial review for bad faith is appropriate in a case where the lender willfully violates the Nevada Foreclosure Mediation Program rules.  These Rules were discussed in detail in our previous videos, and can be accessed at the Nevada Supreme Court’s website along with other Nevada foreclosure laws.  Review these rules carefully.  It has been our experience that unless a majority of these rules were violated by your lender or the mediator, the court is unlikely to find that there was any bad faith.  So, if you feel you are being treated unfairly at the foreclosure mediation, try your hardest to convince the mediator that rules were broken and that he should make a finding of bad faith against the lender.  At the very least try to get the mediator to spell out all of the broken rules in his Mediator’s Statement or bring a checklist of the rules as we have shown in our earlier episode and ask the mediator to include it with the statement.  This will give you the best chance in court.

In our next segment, I will explain how to file the Petition for Judicial Review and how to get your day in court.

I am Damian Falcone, and this is Get Modified!

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