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Old 04-26-2010, 01:01 PM
 
251 posts, read 268,601 times
Reputation: 261

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I received a Notice of Default in December of last year. Enclosed with the default notice was an Election/Waiver of Mediation form which I promptly filled out electing mediation and sent copies via a certified mail to both the Trustee and to the Director of Mediations using the envelopes supplied with the notice of default. In the Director of Mediations envelope I also included a certified check in the amount of $200. In the Trustee’s envelope, I also included a copy of the certified check that I sent to the Director of Mediations.

As I stated above, this occurred in December, and I have yet to hear from the Director of Mediations notifying me of the scheduled mediation date. Has anyone else applied for mediation? Is it normal to take this long to have the mediation scheduled? At the Foreclosure Mediation Community Legal Education Class that I took at the Legal Aid Center of Southern Nevada William S. Boyd School of Law Nevada Fair Housing Center prior to submitting my mediation request, I was told that the Nevada Supreme Court requires that mediations be conducted within 90 days of a foreclosure notice being filed.

I was also told that the Bank cannot proceed with the foreclosure of my property until they receive a certificate from the mediator stating that they negotiated in good faith. This certificate is required in order for the foreclosure process to continue.

I know that both the Director of Mediations and the Trustee of the Loan (Bank of America) received my forms since I received signed receipts of delivery within a week of my sending the certified letters.

Does anyone have any advice as to what I should do; or should I just continue to wait?
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Old 04-26-2010, 04:23 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,432,159 times
Reputation: 2661
Quote:
Originally Posted by brosati View Post
I received a Notice of Default in December of last year. Enclosed with the default notice was an Election/Waiver of Mediation form which I promptly filled out electing mediation and sent copies via a certified mail to both the Trustee and to the Director of Mediations using the envelopes supplied with the notice of default. In the Director of Mediations envelope I also included a certified check in the amount of $200. In the Trustee’s envelope, I also included a copy of the certified check that I sent to the Director of Mediations.

As I stated above, this occurred in December, and I have yet to hear from the Director of Mediations notifying me of the scheduled mediation date. Has anyone else applied for mediation? Is it normal to take this long to have the mediation scheduled? At the Foreclosure Mediation Community Legal Education Class that I took at the Legal Aid Center of Southern Nevada William S. Boyd School of Law Nevada Fair Housing Center prior to submitting my mediation request, I was told that the Nevada Supreme Court requires that mediations be conducted within 90 days of a foreclosure notice being filed.

I was also told that the Bank cannot proceed with the foreclosure of my property until they receive a certificate from the mediator stating that they negotiated in good faith. This certificate is required in order for the foreclosure process to continue.

I know that both the Director of Mediations and the Trustee of the Loan (Bank of America) received my forms since I received signed receipts of delivery within a week of my sending the certified letters.

Does anyone have any advice as to what I should do; or should I just continue to wait?
Wait and enjoy. The program has had lots of that sort of thing. They will in time sort it out...but it may be a long time.

Think about getting a short sale in place in the interim. Sometimes you can get them to buy into a set short in the process...or before.
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Old 04-26-2010, 10:36 PM
 
Location: North Las Vegas
1,631 posts, read 3,476,738 times
Reputation: 749
Quote:
Originally Posted by brosati View Post
I received a Notice of Default in December of last year. Enclosed with the default notice was an Election/Waiver of Mediation form which I promptly filled out electing mediation and sent copies via a certified mail to both the Trustee and to the Director of Mediations using the envelopes supplied with the notice of default. In the Director of Mediations envelope I also included a certified check in the amount of $200. In the Trustee’s envelope, I also included a copy of the certified check that I sent to the Director of Mediations.

As I stated above, this occurred in December, and I have yet to hear from the Director of Mediations notifying me of the scheduled mediation date. Has anyone else applied for mediation? Is it normal to take this long to have the mediation scheduled? At the Foreclosure Mediation Community Legal Education Class that I took at the Legal Aid Center of Southern Nevada William S. Boyd School of Law Nevada Fair Housing Center prior to submitting my mediation request, I was told that the Nevada Supreme Court requires that mediations be conducted within 90 days of a foreclosure notice being filed.

I was also told that the Bank cannot proceed with the foreclosure of my property until they receive a certificate from the mediator stating that they negotiated in good faith. This certificate is required in order for the foreclosure process to continue.

I know that both the Director of Mediations and the Trustee of the Loan (Bank of America) received my forms since I received signed receipts of delivery within a week of my sending the certified letters.

Does anyone have any advice as to what I should do; or should I just continue to wait?
you should always call if you haven't heard anything, you may have these phone numbers to call and find out but just in case here they are.
Foreclosure Mediation Hotline Get your questions answered by calling

775-687-9816[SIZE=2] begin_of_the_skype_highlighting 775-687-9816 end_of_the_skype_highlighting[/SIZE] (Northern Nevada)
702-486-9380[SIZE=2] begin_of_the_skype_highlighting 702-486-9380 end_of_the_skype_highlighting[/SIZE] (Southern Nevada)

888-421-3004[SIZE=2] begin_of_the_skype_highlighting 888-421-3004 end_of_the_skype_highlighting[/SIZE] (Only available from outside of the 702 area code)


foreclose@nvcourts.nv.gov This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
201 S. Carson Street
Suite 109
Carson City, NV 89701

MEDIA ISSUES
Bill Gang
Public Information Officer
Nevada Supreme Court
702-486-3232[SIZE=2] begin_of_the_skype_highlighting 702-486-3232 end_of_the_skype_highlighting
[/SIZE]
bgang@nvcourts.nv.gov


Foreclosure Mediation Hotline Get your questions answered by calling




775-687-9816[SIZE=2] 775-687-9816 [/SIZE] (Northern Nevada)
702-486-9380[SIZE=2] 702-486-9380 [/SIZE] (Southern Nevada)

888-421-3004[SIZE=2] 888-421-3004 [/SIZE] (Only available from outside of the 702 area code)


201 S. Carson Street
Suite 109
Carson City, NV 89701


MEDIA ISSUES
Bill Gang
Public Information Officer
Nevada Supreme Court
702-486-3232[SIZE=2] 702-486-3232
[/SIZE]
bgang@nvcourts.nv.gov
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Old 04-27-2010, 02:40 PM
 
1 posts, read 5,615 times
Reputation: 11
if you short sale you will get a 1099 from the irs - realtors won't tell you that and neither will attorneys who are not looking out for your best interest. get yourself an attorney to help you with foreclosure mediation. thats what i did. i had an awesome attorney who actually gave a crap about what was in my best interest.
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Old 04-27-2010, 03:50 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,432,159 times
Reputation: 2661
Quote:
Originally Posted by sdmass03 View Post
if you short sale you will get a 1099 from the irs - realtors won't tell you that and neither will attorneys who are not looking out for your best interest. get yourself an attorney to help you with foreclosure mediation. thats what i did. i had an awesome attorney who actually gave a crap about what was in my best interest.
No you don't. No one ever got a 1099 from the IRS because the IRS does not issue 1099s. It accepts them from lenders and employers and such.

There is no tax liability due on a primary residence because of a short sale. And there will not be through 2012. Investors have a different problem though they can often offset the loss.
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Old 05-25-2010, 02:55 PM
 
251 posts, read 268,601 times
Reputation: 261
Default Mediation has been scheduled

I finally received my Mediation Scheduling Notice. The mediation is scheduled for Tuesday, June 8th.

I’m in the process getting all my paperwork done in preparation for the mediation. My hope is to get my current monthly mortgage payment of $2,717.00 (which is 38% of my gross monthly income) reduced to $2,075.00 (which is in line with the Obama Plan of 31% of my gross monthly income).

My main purpose in seeking a loan modification is to replace my Interest Only Adjustable rate to a fixed rate. I could not qualify for re-financing since my house is only worth half of what I owe on it, so I stopped my loan payments to force my lender into mediation.

My task now is to convince the lender that it would be to their benefit to modify my loan rather than allowing it to go into foreclosure. I purchased my house in 2006 for almost $400,000. The house two doors down from me which is the exact same model as mine sold last month for $165,000. I need to convince the lender that they stand to make more by modifying my loan than if they have to sell my house for $200,000 or less.

My question: Did anyone out there attend one of the free Foreclosure Mediation Community Legal Education Classes that are currently being held each Thursday at the Legal Aid Center of Southern Nevada William S. Boyd School of Law? During that class a slide was presented showing the costs of foreclosure to the lender vs. loan modification. The instructor stated that the example slide was not in the class manual, but could be found on his website. Unfortunately I did not write down the web address for the slide.

Hopefully someone reading this thread will be able to point me in the right direction.
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Old 05-25-2010, 04:14 PM
 
251 posts, read 268,601 times
Reputation: 261
Default Looking for an Attorney

I would like to find an attorney to review my paperwork and possibly represent me at my mediation. Any recommendations?
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Old 06-10-2010, 09:19 PM
 
1 posts, read 5,311 times
Reputation: 10
Quote:
Originally Posted by brosati View Post
I would like to find an attorney to review my paperwork and possibly represent me at my mediation. Any recommendations?
I am also going to mediation with boa at the end of the month. How did yours go?
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Old 09-27-2010, 06:28 PM
 
1 posts, read 4,762 times
Reputation: 10
Hi, reading all of these and wondering how folks made out? Did Brosati receive the help? Did it really take 5 months for the paperwork to go through?

Thanks!
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Old 01-13-2011, 08:50 PM
 
Location: Atlanta, GA
12 posts, read 24,652 times
Reputation: 11
Default What exactly is going on?

I filed my foreclosure mediation package on December 17, 2010. The lender received their package on December 20, 2010. I received a postcard from NV Supreme Court indicating that they were confirming the receipt of my package and fees and indicating that it will be processed and assigned a mediator once all fees and documents are received.

I was told when I filed my package (by the clerk) that the lender could not proceed with the foreclosure until the mediation process was complete.

My realtor told me tonight (January 13, 2011) that she contacted my lender today and they are looking at a sell date in February for my house.

I will be calling NV (775-684-1783) tomorrow to find out what the heck is going on.

Other than the postcard, I haven't heard anything from NV.

Does anyone out there know what the heck is going on? Is my lender going to sell my property before we have the chance to mediate? Can they do that?

Please inform! Thanks!
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