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'Loan Mod' Closures Leave Families Worried
State Closing Down Some Businesses
POSTED: 1:00 pm PST November 3,
2009
UPDATED: 11:03 pm PST November 3,
2009
LAS VEGAS -- Nevada homeowners flooded the state’s Division of Mortgage Lending Web site Tuesday to see if their loan modification company was still in business.Video: 
Loan Mod. Companies Try To Get CompliantRelated Link: Nevada Division of Mortgage LendingState officials announced 30 companies would be shut down after they failed to obtain a minimum $75,000 surety bond required by law to protect consumers.Video: Loan Modification HeadachesA list of companies still eligible to provide loan modifications was posted on the agency’s Web site and will continue to be updated.Companies who are no longer authorized to conduct loan modifications are given 10 days to close down and cancel contracts with homeowners.
Loan Mod. Companies Try To Get CompliantRelated Link: Nevada Division of Mortgage LendingState officials announced 30 companies would be shut down after they failed to obtain a minimum $75,000 surety bond required by law to protect consumers.Video: Loan Modification HeadachesA list of companies still eligible to provide loan modifications was posted on the agency’s Web site and will continue to be updated.Companies who are no longer authorized to conduct loan modifications are given 10 days to close down and cancel contracts with homeowners.
Previous Stories:
- October 28, 2009: Vegas Still No. 1 For Foreclosures
- October 9, 2009: 'Save The Dream' Tour Draws Thousands
- September 25, 2009: Tax Credit Spurs Home Buying Spree
- September 11, 2009: Short Sales Could Lessen Foreclosures
- September 10, 2009: Vegas Home Sales Stong, Prices Falling
- August 10, 2009: Study: Abandoned Home Numbers Rising
- July 20, 2009: Report: Nevada Most ‘Distressed’ State
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