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Heavy Fines Levied Against Nevada Company

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CARSON CITY, Nev. (AP) — Nevada regulators are fining an unlicensed company a maximum $25,000 and ordering it to quit claiming it can stop foreclosures within 48 to 72 hours.

A state “cease and desist” order could shutter Sparks-based Sierra Foreclosure Solutions. The Las Vegas Sun reports state officials found that the company charges homeowners $5,000 with claims that it can help stop a trustee foreclosure sale and can cut mortgage payments in half.

The Sun says a man at Sierra Foreclosure Solutions refused to identify himself and wouldn’t say if Day or Hodges were available.

Division Commissioner James Westrin says the company charges homeowners $5,000 with claims that it can help stop a trustee foreclosure sale and can cut mortgage payments in half.

The company, Day and Hodges have 20 days to contest the disciplinary action.

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