As spring begins, we provide a peek at foreclosures in Las Vegas in the latest Haines & Krieger’s Las Vegas Foreclosure Round-up:
1. Dip in Foreclosure Sales Lifts Vegas Home Prices: MDA DataQuick (Housing Wire)
Finally some good news for Las Vegas homeowners? Austin Kilgore uses MDA DataQuick to provide evidence that foreclosure resales decreased while total sales increased.
2. North Las Vegas Gets $677K for At-Risk Families (Associated Press)
Federal stimulus dollars arrive in North Las Vegas to aid low-income families. The city describes how it’ll use the funds, but any unused funds return to the federal Department of Housing and Urban Development.
3. Amid Housing Downturn, Toll Downsizes Its Homes (Reuters)
Toll Brothers, Inc., builders of large, expensive houses, is building smaller houses. Some of these units are half the size and cost of the average Toll house. However, they plan to return to large luxury homes once the economy improves.
4. Foreclosure Mediation: ‘System Is Really A Sham’ (Las Vegas Review-Journal)
Competing accounts of foreclosure mediation inform readers that while some homeowners feel creditors are acting in bad faith, public officials believe mediation has helped many of the 10% of borrowers who have entered the process. Of course, at Haines & Krieger, we have first-hand experience using foreclosure mediation on a regular basis to help our clients keep their homes. And those homeowners can attest to the fact that foreclosure mediation is definitely not a sham!
5. Official Says Lenders May Renege On Promises (Las Vegas Review-Journal)
Nevada’s Assembly Speaker and sponsor of foreclosure mediation, Barbara Buckley, stated in a hearing that lenders agree to modify loans during mediation, but then fail to sign the documents. Other times, they give consumers revised mediation terms, or they come to mediation without all the required documents or worse, negotiating authority.
Haines & Krieger attorneys have been at the forefront of helping Las Vegas residents deal with foreclosure problems and getting back on their feet. So get in touch and let us help you figure out your best options for fighting foreclosure.