Zach Conine '13

Relief to Homeowners during COVID-19

The last month has been difficult for families and workers across Nevada who have been impacted by COVID-19. In the Treasurer’s Office, we’re focused on finding ways we can take additional risks off the table, so families who’ve had their personal finances affected can get back on their feet quickly. 

No one should live in fear of having their house foreclosed on because they lost a job and couldn’t make a payment during a global pandemic. That’s why we’re working collaboratively with Nevada’s banks, credit unions, and mortgage lenders to offer homeowners a series of relief options during this crisis.

The majority of lenders in Nevada are offering between 90-180 days of mortgage forbearance, which allows you to temporarily suspend your mortgage payments for the next few months. Similarly, you will not be subject late fees or have your credit score negatively impacted if you have to temporarily stop making payments on your mortgage. 

We know that this can be stressful, and that’s why we’re asking lenders to work with homeowners on flexible payment options when this crisis is over. These options are going to vary based on the individual borrower, but our intention is to make sure that that you won’t have to make three or four months of mortgage payments all at once. In some cases these payments can instead be added onto the back end of a mortgage, so people can get back to work and get back on their feet. 

This mortgage relief is available to Nevadans, today; however, you must reach out to your lender as soon as possible to discuss your options.

We’ve compiled a comprehensive resource guide for Nevada homeowners looking for assistance on their mortgage payments, which is available at NVHealthResponse.nv.gov. Additionally, if you’re having trouble contacting your lender, please email us at ask@nevadatreasurer.gov and we’ll work to connect you with the right resources.

I know that if we continue to work together to flatten the curve and stay home for Nevada, we’ll get our economy moving, and get people back to work as soon as its safe.