New homeowner assistance hotline coming
Some help is coming for those hit hardest by the foreclosure crisis. A new hotline is set to provide struggling homeowners with access to counselors and legal assistance.
Nevada's Attorney General announced today, more than $11 million will be used to fund the call center for one year. Additional funding will be requested, if the hotline is needed longer.
The AG’s program aims to enhance housing counseling agency services and efforts to provide financial literacy programs. It also looks to enhance legal aid to assist homeowner foreclosure mediation efforts and deliver legal representation when needed. And the program looks to support law enforcement efforts to investigate, prosecute, litigate and prevent financial fraud or unfair or deceptive practices.
The program will initially create or save a total of 73 jobs. With additional staffing for housing counselors, there's hope the hotline will provide assistance to about 30,000 residents in one year. The call center is expected to launch sometime later this year.
The money comes from $57 million dollars nevada received from 5 of the nation's largest banks, as part of the National Foreclosure Settlement.