Las Vegas foreclosures are still occurring across our city. But, we are pleased to report that help is on the way for many homeowners who are facing a Las Vegas foreclosure, thanks to new details under the Making Home Affordable Program announced today by the U.S. Treasury and the U.S. Department of Housing and Urban Development.
Las Vegas Foreclosures
The Making Home Affordable Program is designed to help homeowners obtain modifications to their loan so they can afford to stay in their home and avoid a Las Vegas Foreclosure! In some cases, where a modification is not possible, new incentives have been put in place to encourage the “quick private sale or voluntary transfer of property, or a “short sale.” These programs and processes will save homeowners money and protect their financial future,” according to U.S. Treasury Secretary Timothy Geithner.
Help for an Embattled Las Vegas Homeowner
A short sales occur when a bank agrees to let homeowners who have fallen behind on their mortgage to sell their home for less than they owe on their mortgage. This is a viable option to a foreclosure for many families and one that they should consider.
Many homeowners don’t know that their local Realtors can help them if they are facing a foreclosure. Most of our realtors are Certified Distressed Property Experts; meaning, they’ve taken special courses to know how to help people who may be facing a Las Vegas Foreclosure. And, this designation is recognized by banks and means that the paperwork that is being handled by a CDPE trained Realtor goes to the top of the stack.
So, if you are a homeowner facing a Las Vegas Foreclosure please call us, as we may be able to help you avoid this process!
