I-Team: New Law Protects Struggling Nevada Homeowners - 8 News NOW

I-Team: New Law Protects Struggling Nevada Homeowners

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Valeria Berg talks with state Senator Justin Jones. Valeria Berg talks with state Senator Justin Jones.

LAS VEGAS -- Nevada homeowners get additional protections from foreclosure as a new statewide bill of rights went into effect Oct.1. This comes one day after a record breaking number of foreclosure notices were filed in Clark County.

The analysts at Las Vegas based Auction Control Systems counted 934 new notices of default recorded on Monday alone. That triples the previous one day record set in 2008. Analysts believe it's because banks wanted to beat the clock on a new law that went into effect that offers protections for Nevada homeowners.

Valeria Berg's house in northeast Las Vegas is the kind of home where the heights of four children, four grandchildren, and six great-grandchildren are penciled on the kitchen wall. Her husband Bill died earlier this year --  two days before their 60th wedding anniversary -- in their home.

For Berg, the home is a tangible link to her family and many special life events.

"A lot of good things. A lot of memories. The tokens of my husband's travels in the service. A lot of the things up here, my china hutch. Just everything. The birth of our first grandchild was here."

Like so many Las Vegans, bills and credit cards led the Berg family to refinance their home, but that's now led to ballooning monthly payments. From Countrywide, to Bank of America, to Everhome, she says her attempts to renegotiate her loan have been met with frustration and indifference. Berg has kept up on her payments, but can't hold on for much longer.

Democratic state Senator Justin Jones led the push to get a homeowners bill of rights passed into law after his own grandmother lost her home. He outlines the additional homeowner protections.

"They have to provide information to you before they start the foreclosure process. They have to provide a notice 30 days before they even begin that process. They have to have a single point of contact so that you don't talk to a different person every single time," said Senator Justin Jones.

Customers of five major banks already received those protections after the nationwide foreclosure settlement. But the banks were selling their loans to little-known servicing companies leaving a loophole in homeowner protections. Under the new law, all home loans, no matter which company is the servicer, receives additional homeowner protections.

"At least give me a little hope, hope that I get some satisfaction, or right answers. If you can't help me at all, then you can have the house, I guess, because I can't keep it. What am I going to do?"

State Senator Jones is holding a free homeowners workshop from 6 to 8 p.m. tonight at Carnarelli Middle School. It explains all of the additional legal protections Nevada homeowners receive with the new law.

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