North Las
Vegas City Council members voted
5-0 against the plan that was aimed to rescue
thousands of underwater homeowners.
The
plan would have allowed city officials to take a bad home loan in the same way
it seizes private property for public use.
Although the
plan has been launched in other states, it has yet to be successful.
The greater
Las Vegas Board of Realtors has been against this plan. GLVAR President Dave Tina stated, "We
also agreed with federal housing regulators, lenders and other experts who said
it would harm the housing market throughout Southern Nevada just as it is
starting to recover."
Although the
Las Vegas real estate market does appear to be recovering, approximately 48.4
percent of valley homeowners have negative equity mortgages. This means their debt outweighed their home’s
value in the quarter ending June 30, according to a new report from housing
data firm Zillow.
As a Las Vegas
real estate professional who has assisted 100’s of homeowners through this
difficult time in their lives, I help homeowners to deal with every aspect of
the grief and uncertainty that accompanies a mortgage which is no longer
manageable. In the process, I help them to get on a path of financial solvency.
If you or someone you care about would like
to change the course of a life that’s facing foreclosure, I get it and I can
help. Contact me today!
Shanta
Patton- Patton Team, 702-302-2760, www.SellingLasVegasToday.com
, www.ShortSaleLasVegasToday.com
,
Email Me ,
Wynn
Realty Group
