Nevada Dems, GOP Lawmakers Supportive Of Proposed State Foreclosure Mediation Bill

In Carson City, Nevada, the Las Vegas Review Journal reports:

• Conservative Republicans expressed tentative support [Wednesday] for a Democratic bill to require banks and other lenders to participate in mediation hearings with homeowners who are in danger of losing their homes to foreclosure. "This bill represents intervention into the private sector that I would generally be uncomfortable with," said Sen. Warren Hardy, R-Las Vegas. "But these are not normal circumstances and I want to be part of the solution."

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• Under the proposal, people in danger of losing their homes would apply to the Administrative Office of the Courts, at the Nevada Supreme Court, and request a mediation hearing. Lenders would be required to attend or send a representative who has the power to renegotiate loans. "We recognize the importance of this issue to the citizens of the state," Chief Justice Jim Hardesty said. "This is an all-hands-on-deck crisis."

For more, see Republicans offer tentative support for Buckley's foreclosure mediation bill.