$100 million coming to Nevadans facing foreclosure | NevadaAppeal.com

$100 million coming to Nevadans facing foreclosure

Nevada Appeal Capitol Bureau

Sen. Harry Reid, D-Nev., said Friday that Nevada is one of five states that will participate in a new foreclosure rescue program.

“This much-needed relief will bring $100 million into Nevada to help struggling homeowners rework their mortgages and stay in their homes,” he said.

He said the money could be used to give unemployed homeowners bridge loans for mortgage payments until they get a job or to convince lenders to rewrite mortgages when the homeowner owes more than the house is worth.

“This initiative is exactly what Nevada needs to provide assistance for thousands of families who desperately are in need of a break as they struggle to keep a roof over their heads,” Reid said.