CARSON CITY, Nev. (AP) — Nevada lawmakers want to pull the plug on a program that helps homeowners fend off foreclosure in a sign of just how far the state has come since the Great Recession.
Legislators are moving to phase out the Foreclosure Mediation Program that was born in 2009 and brings lenders and troubled borrowers to the negotiating table.
They point to the program's falling participation rate and say the state has better uses for the millions of dollars that help fund mediations.
Democrats want to keep the program going another two years, saying many homeowners remain deeply underwater on their mortgages.
Nevada still has a high foreclosure rate relative to other states, but the raw numbers have plummeted from their recession peak and as the unemployment rate and other metrics improve.