Thursday, Dec. 11, 2008 | 4:54 p.m.
- Audit critical of state’s regulation of mortgage companies (12-11-2008)
- Their dreams shattered, investors left to wonder (11-28-2008)
- City works to prevent foreclosures (11-13-2008)
- Those empty homes for sale are harming communities (10-28-2008)
- State plan could ease pressure of ‘tsunami’ (10-23-2008)
- Reid, Goodman tour foreclosed homes, present remedy (10-22-2008)
- Bill to protect renters in foreclosure cases (10-20-2008)
Gov. Jim Gibbons asked for a 90-day freeze on foreclosures in Nevada in a meeting today with representatives of mortgage lenders.
The lenders agreed to devise options and ideas to keep Nevadans in their homes but did not say if they would agree to Gibbons' three-month moratorium on foreclosures. They plan to further discuss the options with Gibbons within the next few days, according to the governor's office.
Current statistics show home foreclosures could hit 30,000 in 2008 in Clark County alone.
"If Wall Street and large financial institutions can get relief, it is fair and reasonable for Main Street and local homeowners to receive consideration from financial institutions," Gibbons said.
Participants in the meeting included Wells Fargo Bank, Countrywide/Bank of America, the State of Nevada Housing Division, Bank of Nevada and the Nevada Bankers Association.
The lenders said they are willing to modify loans to keep people in their homes.
"Time is a critical element here, as the problem continues to escalate," Gibbons said. "We must act quickly because too many Nevadans have already lost their homes, which is devastating, particularly during the holiday season."
Jeff Pope can be reached at 990-2688 or firstname.lastname@example.org.