A local real estate agent wants homeowners going through foreclosure to know that they are not alone.
"The hardest thing is the emotion of losing a home, and the stigma," said JP Pilkinton, an agent with Intero Real Estate Services in Gardnerville. "A lot of people don't ask for help because they don't want anyone to know what's going on in their lives. That's the unfortunate thing. There's help available if they just open up to someone."
Pilkinton is one of countless agents in the industry trying to navigate the unprecedented and difficult landscape of default. Recently, he was certified by the National Association of Realtors to handle short sales and foreclosures.
"Working in our market today, you better be trained how to handle these things," Pilkinton said. "They make up the bulk of our business right now. For whatever reason, people have not been able to make their payments. After 90 days of nonpayment, they get a notice of default."
Pilkinton said homeowners in default have five options: negotiate with their bank, deed the house back to the lender, enter a a short sale, foreclose, or file a claim with the state's Foreclosure Mediation Program.
It's the last option that Pilkinton wants to drill in the minds of struggling homeowners. Created by the Nevada Legislature in 2009, the Foreclosure Mediation Program gives homeowners the chance to have a state-approved mediator negotiate a settlement. Cost to file a claim is $200, and the claim must be filed within 30 days of default.
"What's happening is that people are wasting that 30 days fighting with their bank, thinking that the banks are going to help them," Pilkinton said. "That's just not the case these days."
Pilkinton said he receives default notices every week from a title company. He said there about 10 to 20 defaults a week in Douglas County.
"I just follow-up with a letter," he said. "I've been able to help some people who call me in time. It's really a time issue. That 30-day window is what creates the problems. If people call me at the first sign of a problem, then I can try to guide them."
For more information, call Pilkinton at 783-5322 or e-mail jp@interoalpinesierra.com.
For more information about the Foreclosure Mediation Program, visit www.nevadajudiciary.us., call the Carson City hotline at (775) 687-9816, toll free at (888) 421-3004, or call Annie Yanez, FMP representative, directly at (702) 486-9386.
