HousingWire – Kerri Ann Panchuk
The California Homeowner Bill of Rights shifted how foreclosure attorneys, banks and homeowners view the default process in the state. Now lawmakers in the neighboring state of Nevada are backing a bill that would create foreclosure mediation requirements for distressed homeowners while setting up civil penalties for banks that fail to follow outlined default procedures. It’s Senate Bill 321. The legislation has already passed the Nevada Senate and is in assembly, where it was recently read by a committee for the first time.