Las Vegas foreclosures

Foreclosure news is not new. For the last several months, every major media outlet has been broadcasting about looming foreclosures, the increasing foreclosure rates, the latest foreclosure scams and the rising number of cases of mortgage fraud. The one thing that most of them haven't covered is what you can do to avoid losing your home to the bank.

The Federal government has finally taken notice and started talking about actually doing something about it. Nevada is one of the few states taking their own action to help home owners facing foreclosure. The issue was debated by the legislature earlier this year and now there is a help line and website that will answer some of the questions that homeowners face during a foreclosure proceeding. Nevada residents can simply dial 211 or visit the foreclosure help page on the Nevada government website.

The website has a Q&A section, how to avoid scams, information about predatory lending, home counselors you can contact, a list of information you will need when contacting your lender plus what you can do to prevent foreclosure. 

The Las Vegas real estate market has seen a significant rise in the amount of bank owned properties on the market. The city of North Las Vegas has had the highest foreclosure rate in the state, making national news. A trusted resource homeowners can turn to for answers should help reduce the amount of foreclosures. Some of the information provided is common sense, but with the amount of confusion that can come into play it may be just what people need to help them avoid losing their home, especially to a scam artist.

There is also a national help line number homeowners can call 888-995-HOPE. It connects you to a nationwide counseling service (provided by the Homeownership Preservation Foundation). The service is available 24 hours a day, seven days a week.

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