What is the big deal about walking away from my house?

Q: What is the big deal about walking away from my house? A: In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from … Continue reading

Can you get cash for keys on a short sale in Nevada?

Q: Can you get cash for keys on a short sale in Nevada? A: Yes! In fact, here are a few actual letters. The Robo-signing Settlement may have helped more homeowners obtain this incentive. Here is the language on the … Continue reading

Foreclosure vs. Short Sale in Nevada. Which one is better?

Q: Which one is the better option? Short Sale or Foreclosure? A: You make the call! At one point, FICO Banking Analytics said there was no real difference in the affect a short sale or a foreclosure had on your … Continue reading

Yale University Professor: Housing Recovery a Generation Away

Yale University Economics Professor Robert Shiller says a total recovery of the housing market may take a generation as new home sales falter and prices barely rise. VIDEO: http://www.usatoday.com/video/housing-recovery-a-generation-away/1582170849001 Find out if you might be eligible for any Cash for … Continue reading

Short Sales in 2012

It’s time to take another look at short sales! As recently as a few months ago, if you would have told me, a real estate agent who specialized in Las Vegas short sales, that I’d be raving about a lender’s … Continue reading

Foreclosure Crisis Fosters True Grief

After my workout early this morning, I walked around outside in my backyard with a cup of coffee and thought about my clients. Across the board, I see in all my clients that foreclosure fears foster true grief. When some … Continue reading

When will home ownership be affordable again?

Q: At what point will home ownership become affordable again? A: My thoughts: Prepare for a new normal. Recent economic upheaval has taken a hefty toll. Looking at 2012, it’s impossible to know what’s next and the kind of an … Continue reading

I am reluctant to give up my property even though I’m upside down on my mortgage.

Q: I am reluctant to give up my property even though I’m upside down on my mortgage and am not making the payments. I keep thinking something will happen that will change my circumstances. Maybe a miracle or something. I … Continue reading

How do I know when my mortgage is out of balance with my budget?

Q: How do I know when my mortgage is out of balance with my budget? A: It doesn’t take much for your mortgage to exceed what your budget can conceivably handle. And it can happen quickly. An expensive car repair, … Continue reading

Why would a bank agree to a short sale?

Q: Why would a bank agree to a short sale? A: Short sales are a terrific option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates giving them … Continue reading