The first part of the Nevada Attorney General’s $33.5 million foreclosure mitigation plan was green lighted by the state’s interim finance committee this week.
Nevada AG Catherine Cortez Masto asked for approval to dedicate $11.7 million in foreclosure settlement funds to support the first part of a program that aims to build a call center for distressed borrowers.
The program also would enhance legal aid to homeowners and support educational and law enforcement efforts tied to the foreclosure crisis.
“Nevada has been devastated by the mortgage fraud and the foreclosure crisis,” said Masto. “The Nevada Attorney General’s National Mortgage Settlement Plan will offer much needed help for families in the Silver State by investing in broad scale statewide initiatives, essentially a one-stop-shop, which will assist distressed borrowers free of charge. This call center will serve as a hotline to help and hope.”
Cortez Masto’s office suggests the program will create or save approximately 73 jobs. The team also plans to add enough staffing to allow housing counselors to reach up to 30,000 residents in one year.