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At Risk Home Owners Get Relief

CNN reports that some are being rescued from a sticky foreclosure situation. They have helped many keep their homes.
"Hope Now helped 183,000 at-risk borrowers stay in their homes during the month of April..."

Many of the home owners were simply allowed to make up late payments. However, many loans were actually altered to lower the balance or interest rate to ease the payment amount.

Sadly, many families are still losing their homes. No one benefits from a foreclosure unless you are on the investor side picking up the recently dumped properties. Some in Las Vegas are reaping the profits. Find out from a Las Vegas real estate agent.

Lenders Could Prevent Many Foreclosures by Allowing More Short Sales

A short sale is when a bank will allow a home seller to sell for less than they owe the bank. Sellers often need to move and buyers often want to buy but the current home value is less than the mortgage amount. Banks are all that stand in the way. Ironically, they end up losing more money by foreclosing, relisting the property, and managing the assets. According to CNN:

"Lenders are taking much longer than necessary to approve short sales, according to Duane LeGate, of House Buyers Network, a short sale specialist."

If you have more questions about short sales or foreclosures let your Las Vegas Realtor know.

Lenders Could Prevent Many Foreclosures by Allowing More Short Sales

A short sale is when a bank will allow a home seller to sell for less than they owe the bank. Sellers often need to move and buyers often want to buy but the current home value is less than the mortgage amount. Banks are all that stand in the way. Ironically, they end up losing more money by foreclosing, relisting the property, and managing the assets. According to CNN:

"Lenders are taking much longer than necessary to approve short sales, according
to Duane LeGate, of House Buyers Network, a short sale specialist."

If you have more questions about short sales or foreclosures let your Las Vegas Realtor know.

HOAs Cannot Restrict Certain "Green" Technologies

The Green Movement is strong and will get stronger. Many are out to improve and conserve our environment. On the Las Vegas RJ a reader asked about an HOAs role in natural energy restrictions. The interesting response is that no governing body can regulate systems used for solar or wind energy. The NRS provided an answer:
"NRS 278.0208 is entitled "Restrictions on Use of System for Obtaining Solar or Wind Energy Prohibited." It states that a governing body shall not adopt any regulation or take action that prohibits or unreasonably restricts the owner of real property from using a system for obtaining solar or wind energy on his or her property..."
For more on the policy read here or for more on Las Vegas real estate contact a professional.

HOAs Cannot Restrict Certain "Green" Technologies

The Green Movement is strong and will get stronger. Many are out to improve and conserve our environment. On the Las Vegas RJ a reader asked about an HOAs role in natural energy restrictions. The interesting response is that no governing body can regulate systems used for solar or wind energy. The NRS provided an answer:
"NRS 278.0208 is entitled "Restrictions on Use of System for Obtaining Solar or Wind Energy Prohibited." It states that a governing body shall not adopt any regulation or take action that prohibits or unreasonably restricts the owner of real property from using a system for obtaining solar or wind energy on his or her property..."
For more on the policy read here or for more on Las Vegas real estate contact a professional.


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