RENO, Nev. (Mynews4.com & KRNV) - Nevada may no longer be at the bottom, but the effects of the housing crisis are still being felt by thousands. State Attorney General Catherine Cortez Masto is hosting educational meetings for Realtors and legislators. The topic is a new state-wide program aiming to make it easier for distressed homeowners seek assistance. It is titled, Home Again: Nevada Homeowner Relief Program.
"It's a one-stop shop for homeowners," said Cortez Masto. A free hot-line and website have been up and running for about one month. "We've already had thousands of calls," said Cortez Masto.
The program came from a multi-state settlement with the nation's five largest mortgage services; Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo over foreclosure abuses.
The purpose of this educational session is to help spread the word using Realtors who come face to face with clients that need help. "Still in Nevada two-thirds of the homes upside down, peoples mortgages are higher than the value of their homes. People can really use these resources," said former President of Reno-Sparks Realtors Association Kevin Sigstad.
Cortez-Masto says $33 million will go towards the program over the next three years. "We anticipated trying to help about 30,000 homeowners," said Cortez Masto.
"In three years we will go back to the legislature and show them who and how many we have helped and determine whether or not we still need support," she said.
Homeowners can call 1-855-HLP-4-NEV (1-855-457-4638). It is a toll-free hotline available Monday through Friday.
