Help for Owners of Suntrust Bank Foreclosures, All Foreclosure Types

by Peter Vernon on Foreclosure Help

The Washoe County Senior Services Department has launched the Senior Law Project (SLP) which aims to help senior homeowners facing the possibility of losing their properties to foreclosures, including Suntrust bank foreclosures. Although the project specifically targets senior homeowners, they also provide help to other homeowners in various areas of Reno, Nevada.

The SLP program has a number of counselors that offer advice to owners of Reno foreclosures for sale. The effort includes a seminar which provides general information on foreclosures and a workshop that helps prepare troubled homeowners for foreclosure mediation. The events are usually held at the Reno Senior Center every Wednesdays and Thursdays.

According to the people behind the program, the general info seminar provides details regarding the time frame for processing Nevada foreclosed homes and information on options offered by mortgage firms. They added that the program is there to provide counseling and assist homeowners in such a way that they will not miss their scheduled mediation.

SLP accommodates all types of foreclosure issues, including Suntrust bank foreclosures, and all types and age groups of homeowners. However, the project's priority is low income elderly homeowners and minority seniors. They also give priority to those who are already 90 days behind in their mortgage payments and have already received a default notice.

Organizers have revealed that majority of owners who lost their properties to bank home foreclosures were afraid of mediation and would sometimes prefer to just walk away from their mortgages. They stated that mediation seminars aim to prepare borrowers in discussing alternatives to foreclosures with their lenders.

They added that in some cases, counselors can accompany a homeowner to mediation, but since resources are quite limited at SLP, not all cases can have a counselor present. In situations where counselors cannot personally attend, they can be available during mediation by phone. The goal, organizers stated, is to help borrowers obtain a mortgage modification to avoid foreclosure and at the same time, protect their credit status.

The program is open to all homeowners, including those who are facing potential Suntrust bank foreclosures, but priorities are provided to elderly homeowners and those who have already received notices of default. Organizers have assured residents of Reno that they will benefit from attending the program's seminars.