Short Sales Are Taking Over Las Vegas

According to new data released by Trulia, Las Vegas short sales are on the rise, and are quickly overtaking bank-owned home sales.  A remarkable 498 homes sold through the short sale process during the first half of June 2012, while only 434 homes owned by lenders sold and closed during the same time frame. What is happening?  Why are so many people jumping on the short sale bandwagon?

Mortgage Debt Relief Act Expiring

One of the most likely reasons for the rise in short sales in Las Vegas is that the Mortgage Debt Relief Act is set to expire on December 31, 2012.  While there… Read more »

$200K to Stop Foreclosure in Las Vegas

The city of Las Vegas has announced that they will be receiving $200,000 from HUD to help stop foreclosure in the city. Obviously, this is not enough to money to help homeowners directly with their past-due mortgages, so what is this money to be used for? The city plans to develop an educational program the will help residents facing foreclosure learn about their options.

It makes sense that Las Vegas would be targeted for a program like this because foreclosures in Nevada, especially in the Las Vegas area, are higher than in any other area of the country right now. Las… Read more »