Today’s financial situation is difficult for Nevadans, as it is for most residents in the U.S. The drop in home prices and the rise in mortgage payments are just two of the problems Nevadans have to face. Add loss of employment, a sudden disability, a divorce, elderly parents, credit cards and unpaid bills, and you will begin to understand the complexity of the problem Nevada residents face.

These issues can cause homeowners to struggle financially and miss mortgage payments. Unfortunately this can cause Nevadans to lose their homes to foreclosure. However, help is available from State and Federal and charitable institutions.

It is important than when you are at risk of becoming delinquent (another word for late) in your payments you act quickly and contact your servicer (the company you send your monthly payments to) and find a professional (and free) housing counselor. The key is to understand when you are at risk of getting behind in your payments and acting quickly. The sooner you seek help the more likely it is your servicer can find a solution that will allow you to keep your home. Even if can’t afford your mortgage despite any workout there are still alternatives to foreclosure you can negotiate with your servicer and lender.

Nevada is a nonjudicial foreclosure state. This means your lender can start the foreclosure process at any time after you default on your mortgage, and you default on your mortgage as soon as you do no not make your mortgage payment on the date agreed in the mortgage contract.

As soon as you are late in making a mortgage payment your case will go to the Collections Department of your servicer (usually a bank). You can find the due date of your mortgage payments on the monthly statement your servicer sends you. The Collections Department will try to contact you many times to collect your mortgage payment. If after 30 days you still haven’t paid your case, the Collections Department will pass on your case to the Loss Mitigation Department. This is the department you will have to deal with to try to get your mortgage back on track. They have the staff and expertise that can help you find a mortgage workout you can afford.

As soon as they receive your case they will try to contact you, and send you letters asking you to call. Do not ignore them. Always return their calls. Working with them is your only chance at keeping your home.

Before you get to this stage you should be talking to a qualified housing counselor. If you are going through a foreclosure and haven’t spoken with a housing counselor yet, do it now. You can find an updated list of approved housing counselors in Nevada at www.foreclosurehelp.nv.gov, www.hud.gov or by dialing 2-1-1. The list below is accurate as of June 2010 and is provided courtesy of the Nevada Foreclosure Prevention Taskforce. Notice these housing counselors are professionally qualified and free. If your housing counselor asks for payment, especially up-front payments for his or her services report it to HUD at 800-569-4287 and confirm you are dealing with an approved counselor.

List of Certified Housing Counselors in Nevada.

Consumer Credit Counseling Service of Southern Nevada (HUD approved)

Address: 2650 S. Jones Blvd

Las Vegas, Nevada 89146

3100 Mill Street #111

Reno, Nevada 89502

Phone: (800) 451-4505 or (702) 364-0344

Email: cccs@cccsnevada.org

Website: www.cccsnevada.org

Community Services of Nevada (HUD approved)

Address: 3320 Sunrise Avenue, Suite 108

Las Vegas, Nevada 89101

Phone: (702) 307-1710

Fax: (702) 307-1712

Email: mvreb@elvcdc.org

Housing for Nevada (HUD approved)

Address: 285 E. Warm Springs, Suite 100

Las Vegas, Nevada 89119

Phone: (702) 270-0300 or 1-877-649-1335

Fax: (702) 270-2195

Website: www.housingfornevada.org

Neighborhood Housing Services of Southern Nevada (HUD approved)

Address: 1849 Civic Center Drive

North Las Vegas, NV 89030

Phone: (702) 649-0998

Fax: (702) 649-0702

Website: www.nwsn.org

Nevada Fair Housing Center

Address: 3380 W. Sahara Avenue, Suite 150

Las Vegas, Nevada 89102

Phone: (702) 731-6095

Fax: (702) 732-9538

Email: info@nfhc.org

Website: http://www.nfhc.org/

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