Geoff Dornan
gdornan@nevadaappeal.com

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May 9, 2013
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Subcommittee approves $150 million foreclosure-rescue program

A subcommittee of the Senate Finance and Assembly Ways and Means committees Wednesday approved a $149 million program designed to help rescue underwater homeowners from foreclosure. The Nevada Home Retention Program would be funded by a $49 million transfer of mortgage-settlement funds from the Attorney General’s Office to the Department of Business and Industry. The Real Estate Division would use the cash, matched by $100 million from the U.S. Treasury, to create a program that officials say is designed to address the estimated 52,000 delinquent home mortgages headed toward foreclosure in Nevada. The program’s goal is “to stabilize home ownership …

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The Nevada Appeal Updated May 9, 2013 05:39PM Published May 9, 2013 12:58AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.