If you as a homeowner are facing a Las Vegas Foreclosure or know someone who may be contemplating one please have them contact us, as we may be able to arrange a “short sale” – a transaction that is predicated upon your lender accepting a little less than what is owed on the house at present.
Some issues to be aware of if you feel that you may be heading towards filing a Las Vegas Foreclosure:
- Do not ignore your position – stay in contact with your bank as soon as your position becomes challenging. Many lenders do not want to take possession of your home and will work with you and you may have more leverage than you realize.
- Carefully review all correspondence with your bank, as there may be important information that will help to define your options that you need to be aware of.
- Have or get a good grasp of your mortgage rights – review your loan docuements so you will have an understanding of waht your lender may or may not do in a Las Vegas Foreclosure situation.
- Know what your Las Vegas Foreclosure prevention options are – contact the Department of Housing and Urban Developmentto learn more about your Foreclosure options and to reach a no charge HUD Counselor.
- There are a lot of companies that offer for profit Las Vegas Foreclosure services; but most do not offer much value in any concrete sense. You are better off contacting HUD directly or working with a realtor to help you set up a Las Vegas Short Sale.
- Never sign your deed over to a third party, even if they tell you they can stop a Las Vegas Foreclosure process; you may end up as a renter in your own home.
We would urge you to stay in your home as long as you possibly can but if you cannot handle your mortgage payments then by all means call us (702.360.2030) or a realtor who is familiar with a Las Vegas Short Sale, as we may be able to help you get out of your home, with minimal impact on your credit.
