|
 |
||
Call Us! 877.360.2030 • 702.360.2030 | |||
The FDIC (Federal Deposit Insurance Corporation) announced last week that six weeks after taking over Indy Mac Bank it will start systematically modifying some of the bank’s most difficult loans to keep borrowers in their homes.
This should have an immediate impact on our local Las Vegas Foreclosure market as well as nationally – it’s difficult to predict how significant the impact though until Indy Mac works through its loan portfolio and…
Some Fast Facts on Las Vegas Foreclosure News the last few days.
National Media Reports Foreclosures surge 55%, with more than 272,000 homes received at least one foreclosred related notice in July – one in every 464 US households received a foreclosure filing last month.
California, Florida, Arizona, Nevada, Ohio, Georgia and Michigan had the highest foreclosure rates – foreclosure rates increased in all but eight states.
Fannie Mae is coming to the rescue…
Today’s Wall Street Journal published an article about large funds are moving into buying Las Vegas Foreclosures and other foreclosures around the US. Many are basing these investments on the relative health of the rental markets in most major cities, including Las Vegas, coupled with the huge drop in foreclosure pricing and the opportunity to make significant amounts of money when the markets bounce back a number of years down the…