Archive for the ‘nevada home foreclosure’ Category

4 Websites You Can Trust for Bankruptcy and Foreclosure Information in Nevada

Monday, September 13th, 2010

There are a lot of scams in the world of bankruptcy, foreclosure, short sales, loan modifications and foreclosure mediation. Especially in Nevada, and perhaps even moreso in Las Vegas.

You can search on Google for help. But how do you know which information sources you can trust?

Look no further because here are…

4 Websites You Can Trust for Bankruptcy and Foreclosure Information in Nevada

1. http://www.nvb.uscourts.gov/BankruptcyInfo/BkInfo_Home.htm

U.S. Bankruptcy Court, District of Nevada. The Bankruptcy Information page contains explanations of basic bankruptcy terms such as Chapter 7, Chapter 13 and Discharge. It also has links to approved credit counseling and debtor education agencies. (Though be aware that “approved” does not mean the same as “recommended.”)

2. http://foreclosurehelp.nv.gov

A government website set up by the Nevada Department of Business and Industry. This site has a Foreclosure Mediation Hotline. A Foreclosure Information Workbook you can download and listen to. (Y puedes eschuchar en espanol tambien.) A way to report scams. And plenty of other helpful information if you’re not sure where else to turn.

3. http://www.nevadajudiciary.us/index.php/foreclosuremediation

For Foreclosure Mediation information, the authoritative site is the Nevada Judiciary’s website set up specifically to facilitate the Nevada Foreclosure Mediation Program. Plenty of good explanations and Q&A to learn from as well as updates and perspectives on how the program is doing.

4. http://www.hud.gov/local/nv/homeownership/foreclosure.cfm

The Department of Housing and Urban Development’s (HUD) site which lists various resources and links specifically for Nevada.

The key for anyone who thinks they may need help dealing with bankruptcy or foreclosure is to start with someone you trust. That can be a government resource, or it can be a lawyer or other trusted advisor who you know is going to put your needs first.

If you’re facing bankruptcy or foreclosure, we encourage you to contact a Haines & Krieger lawyer at 702-880-5554 for information or to set up a free consultation. It doesn’t cost anything and we’ll make sure you walk out with answers you can trust.

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More Nevada homeowners requesting “Foreclosure Mediation”

Tuesday, October 20th, 2009

Since it was first implemented by the Nevada Legislature earlier this year, Nevada’s Foreclosure Mediation Program has become a big deal for Las Vegas and other Nevada homeowners who have received a foreclosure notice.

There have been over 2,200 mediation requests, and according to an article in the Las Vegas Business Press, there have been up to 100 mediation requests per day according to the program’s project manager Verise Campbell.  The article also noted that Clark County reported 6,160 notices of default in December according to the Foreclosure Mediation Program data. And the first week of September was the peak with 1,742 homeowners in the county receiving foreclosure notices.

How successful is Nevada’s Foreclosure Mediation Program so far?
It’s hard to say right now.  There have been approximately 50 actual mediations since mid-September, though information about the outcomes is not available to the public.  But what is clear is that there is bid demand for loan modifications from Las Vegas homeowners facing foreclosure.

The primary advantage of the program is that a Nevada homeowner who receives a foreclosure notice can request a mandatory foreclosure mediation sessions within 30 days of receiving the foreclosure notice.  That means an in-person meeting with a representative of the mortgage lender, a professional foreclosure mediator, the homeowner and the homeowner’s lawyers.  (And yes, you most likely do want to have a lawyer with you for this process.)

If you’ve received a foreclosure notice and want to talk with a Las Vegas bankruptcy lawyer about the foreclosure mediation process as well as other options, please contact us for a free foreclosure consultation.  We’ll provide you with all of the Las Vegas bankruptcy information you’ll need to make an informed decision.  And we’ll do everything we can to help you start getting your financial life back together.

Contact Haines and Krieger today for a free consultation at 702-880-5554.

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Nevada foreclosure rate tops again as unemployment continues to rise

Friday, October 16th, 2009

Thanks to the Las Vegas housing bust, Nevada once again has topped RealityTrac’s quarterly report for having the the highest rate of foreclosures in the U.S. at 1 out of every 23 homes.

The Nevada foreclosure situation is of course not being helped by a 13% unemployment rate in the state along with declining population overall, according to a recent article in Bloomberg.

This means continued trouble for homeowners in our Las Vegas community.  And it means that, barring significant government help, the best option for homeowners to have any chance of keeping their homes is Chapter 13 bankruptcy or a loan modification (aided by Nevada’s Foreclosure Mediation Program), or a combination of the two.

Of course, none of this helps homeowners who also have lost their jobs, since you generally need some sort of steady income to be able to negotiate a loan modification or set up a Chapter 13 repayment plan.

As a result, there have been some calls for a moratorium on foreclosures for those who are unemployed.  In particular, James H. Carr of the National Community Reinvestment Coalition has been an advocate for this concept.

“We do need to think more carefully about a bridge so people aren’t being kicked out of their homes as they are looking for employment,” Carr was quoted as saying in an October 16 article in the Washington Post.

Whatever happens, it would be best if it happened quickly.  Especially for Las Vegas homeowners.

In the meantime, if you’re worried about foreclosure in Las Vegas and are seeking Las Vegas bankruptcy information, then it makes sense to talk with Las Vegas bankruptcy lawyers to get all of your questions answered.

Contact us for a free initial consultation.  We’ll sit down with you, explain your options and provide the Las Vegas bankruptcy help you need to get back on track with your financial life.

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70% of July home sales in Las Vegas were foreclosures

Sunday, September 13th, 2009

According to a recent article in the LA Times, 70% of home sales in Las Vegas were in connection with foreclosures.

This is an astounding number.  However, hopefully it will start to go down thanks to Nevada’s Foreclosure Mediation Program enacted earlier this year.

Under the program, any homeowner who received a foreclosure notice July 1, 2009 or later can request a mandatory foreclosure mediation session with a representative from their mortgage lender.  A professional foreclosure mediator will be in attendance.  And the homeowner can (and should) bring a lawyer as well.

Help Stop Foreclosures Las Vegas
Las Vegas homeowners who are worried about or facing foreclosure but are not familiar with the Nevad Foreclosure Mediation Program should make it their business to learn more about it.  This is a very powerful tool for Las Vegas homeowners to have.  Many other states have implemented similar programs, but Nevada’s is by far the strongest from the perspective of homeowners.

If you’re seeking Las Vegas bankruptcy lawyers who really know this topic inside and out, please contact us for a free foreclosure consultation and we’ll explain the ins and outs and ups and downs of this process.  We help our clients by providing excellent bankruptcy information in Las Vegas and making sure our clients get the full benefit of federal and state bankruptcy laws.

The foreclosure and home sale numbers in Nevada look bad right now.  But we’re here to help you avoid becoming one of those statistics and get your financial life back in order.

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Which Las Vegas home foreclosure category are you in?

Tuesday, July 28th, 2009

In the eyes of mortgage lenders and banks, there are three categories for homeowners facing foreclosure, according to an article in the Washington Post (“Foreclosures are Often in Lenders’ Best Interest“).  And only one of those categories is viewed by mortgage companies as good candidates for loan modification.

Foreclosure Category 1: You can’t keep up payments without the loan modification, but you could keep up payments with a loan modification.  This is the category for which it’s likely to be in a mortgage lender’s interest to negotiate a loan modification.

Foreclosure Category 2: You could keep up with payments if you got a loan modification, but you’re likely to fall behind down the road, leading to foreclosure.  Mortgage lenders want to try and avoid giving loan modifications to people in this category, according to the article.

Foreclosure Category 3: You’re behind on payments, but if you really bust your you-know-what, sell your car, take a second or third job, borrow money from friends or relatives and do whatever else it takes, you could make your payments.  People in this category are probably the ones who could most benefit from a loan modification.  But if you’re able to get blood from a stone on behalf of the mortgage lender, then according to the article, they don’t have incentive to offer you one.

Bear in mind that these categories represent the interest of the mortgage lender, a private, profit-driven company.  They do not, however, necessarily represent the best interests of society as a whole or of the economy.  It’s more beneficial to our Las Vegas society to have people in stable living situations.  And it’s more beneficial to our Las Vegas economy to have people in stable financial situations so that they can continue to be productive members of society.

That said, it’s important for Las Vegas residents to be aware of these three categories.  Because that’s how the mortgage lenders see if you if you’re facing foreclosure in Las Vegas.

Also, I want to point out that categories are not hard science.  While some people may clearly fall into Foreclosure Category 1 or Foreclosure Category 2, how can you really know if someone is in Foreclosure Category 3?  You have to imagine there’s a lot of guess-work that goes into figuring out whether a homeowner falls into Foreclosure Category 1 or Foreclosure Category 3.

For that reason, when you’re considering loan modification in Las Vegas, it can be extremely helpful to have experienced loan modification lawyers on your side who know how to:

  • evaluate your foreclosure situation
  • come up with an optimal, customized strategy for you
  • get the mortgage lender to attend a mandatory foreclosure mediation sessions (if necessary)
  • communicate effectively with the mortgage lenders
  • present your story in the most favorable way on your behalf, and
  • negotiate with the mortgage lenders on your behalf.

Contact us for a free initial loan modification consultation.  We’ll quickly help you figure out your best options, whether that means loan modification in Las Vegas, bankruptcy help Las Vegas, or even a combination of the two.  And we’ll make sure you get the full benefit of the new bankruptcy laws Las Vegas.

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Las Vegas Foreclosures

Friday, July 17th, 2009

You may have seen the recent “good news” in the Las Vegas Sun that housing sales in Las Vegas have stabilized.

The article, however, goes on to point out that any minor benefit is far outweighed by the continued wave of foreclosures so far as well as the ones to come.  The article states that “by some estimates, 20,000 to 25,000 foreclosed properties have yet to be put on the market and that could double if foreclosures increase as some expect.”

Additionally, experts say that for the housing market to turn, there needs to be job growth.  However, according to the latest data from the Nevada Department of Employment, Training and Rehabilitation, joblessness just went up another almost 1 percent from May to June. Rates are at 12.3 percent in Las Vegas and 12 percent for Nevada.  To put this in perspective, Nevada’s unemployment rate was 5.7% for the first 6 months of 2008, and the national unemployment rate is currently at 9.5%.  (See this article in the Las Vegas Review Journal for full details.)

The message is clear:  The more we can prevent foreclosures, the better off the Las Vegas economy will be and the sooner the economy will recover.

We can’t control housing prices or unemployment.  But what we can do is try to help people stay in their homes by using the loan modification process and taking advantage of the new foreclosure mediation program created by the Nevada State Legislature.

Help Stop Foreclosure Las Vegas
The one step individuals can take is to be proactive in seeking a loan modification if you think it will help you avoid foreclosure.  It’s not just good for you, it’s good for the economy as a whole.

The mortgage companies may not always be helpful–in part because they themselves may be overwhelmed by the mortgage problems.  But if you have a good bankruptcy attorney in Las Vegas on your side who is familiar with the loan modification process and with the new foreclosure mediation program, then you’ll have a much better shot at avoiding foreclosure.

Whether you’re able to avoid foreclosure altogether, or whether you need to take advantage of bankruptcy laws, get in touch with us for a free initial foreclosure consultation to get the Las Vegas bankruptcy help you need and get a complete explanation of all of your options.

Yes, the economic news is grim.  But you do still have options.  Get in touch to learn more.

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Step-by-step guilde to Las Vegas foreclosure mediation

Monday, June 29th, 2009

How will foreclosure mediation work for you if you work with Haines & Krieger?  And what will the process look like?

First, if you receive a foreclosure notice, you’ll contact us for a free foreclosure mediation consulation.  We’ll explain the whole process to you in person and answer any questions.  Don’t wait too long. The law requires that you request foreclosure mediation within 30 days of the date that the foreclosure notice was mailed.

Second, we’ll provide you with a request letter that we’ll then send to the appropriate party.  This letter triggers the mandatory request for foreclosure mediation and also temporarily stops or “stays” the foreclosure process for 90 days from the date of the foreclosure notice.

Third, a Haines & Krieger attorney will work with you to select a date for the mediation that is convenient for all parties.  A date should be within 80 days of the date of the foreclosure notice.  90 days is the maximum time limit.

Fourth, your Haines & Krieger attorney will go to the mediation session with you to meet with the mediator as well as the representative from your mortgage lender.  The mediator will be an experienced and trained foreclosure mediation professional.  They want to help you and their goal is to help the parties reach an agreement so that you can keep your home.

If an agreement is reached between you and your mortgage lender that enables you to keep your home, then the mediator will prepare a foreclosure mediation memorandum to be signed by both you and your mortgage lender.

If all goes well, then within a short amount of time you’ll be ready to keep your home and continue your life!

Help Stop Foreclosure Las Vegas
With an experienced bankruptcy attorney in Las Vegas, you’ll be empowered to take the steps necessary to keep your home and maintain control of your life.

For a free consultation or if you need any assistance from Las Vegas Bankruptcy Attorneys, or have questions about Las Vegas Chapter 7 Bankruptcy, or Las Vegas Chapter 13 Bankruptcy, or Las Vegas Debt Settlement, please call the offices of Haines and Krieger at 702-880-5554 today.

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