Under a proposal heard May 2 by a state Assembly committee, cash-strapped Nevada homeowners facing foreclosure would be given added safeguards and counseled on strategies for keeping their homes. The measure, already passed by the state Senate, requires lenders to inform borrowers of possible alternatives before filing a notice of foreclosure. Dubbed the Homeowner's Bill of Rights, it would prevent lenders from initiating foreclosure proceedings while a loan modification is under consideration -- a practice known as dual-tracking. In addition, lenders would be required to decide whether a borrower qualifies for a loan workout prior to initiating foreclosure and then serve as a "single point of contact." Nevada, one of the states hit hardest by the recession, has had the highest foreclosure rate in the country. Assemblyman James Healey (D-Las Vegas), a co-sponsor of the bill, comments, "This bill will allow our residents to take the necessary steps to do everything they can to stay in their homes."