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

How can my short sale work more successfully?

Q: How can I help the short sale process go smoother? A: Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process … Continue reading

What can I expect if I start missing my mortgage payments?

Q: What can I expect if I start missing my mortgage payments? A: The most important thing to know is that no matter what stage of default a homeowner is in, there is almost always a way to avoid foreclosure. … Continue reading

Unmanageable Debt

Unmanageable debt is a sign of the times! Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled. But upheaval on Wall Street, … Continue reading

What is the current default rate for loan modifications?

Q: What is happening with loan modifications today? A: As robo-signing reviews reach completion, servicers are beginning to work through some of their foreclosure backlogs, according to a third-quarter report from Moody’s Investors Service. Moody’s reports that as servicers work … Continue reading

Land in Las Vegas Falls 90% from it’s Peak

Via: Las Vegas Review Journal April 4, 2012 Limited demand for vacant land in the Las Vegas Valley reflects continued weakness in the housing and commercial markets, with just 107 parcels changing hands in the fourth quarter, a report from … Continue reading

Nevada Association of Realtors to produce State Foreclosure Crisis Report

Via: LAS VEGAS REVIEW-JOURNAL April 5, 2012 The Nevada Association of Realtors has received an $86,000 grant from the National Association of Realtors to produce its next “Face of Foreclosure” report on the state’s foreclosure crisis. The report has been … Continue reading

Las Vegas New Homes Sales/Prices Gloomy

Via LAS VEGAS REVIEW-JOURNAL Posted: Feb. 21, 2012 | 2:01 a.m. Rising optimism among national home builders has yet to spread to Las Vegas, where new-home sales totaled just 216 in January, down from 237 in the same month a … Continue reading

Bank of America experiments with Deed in Lease

Via LAS REVIEW-JOURNAL Posted: Mar. 23, 2012 Bank of America has mailed invitations to nearly 1,000 customers at risk of foreclosure in Nevada, Arizona and New York to participate in a mortgage-to-lease pilot program, a spokeswoman for the bank said … Continue reading

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