70% of July home sales in Las Vegas were foreclosures
According to a recent article in the LA Times, 70% of home sales in Las Vegas were in connection with foreclosures.
This is an astounding number. However, hopefully it will start to go down thanks to Nevada’s Foreclosure Mediation Program enacted earlier this year.
Under the program, any homeowner who received a foreclosure notice July 1, 2009 or later can request a mandatory foreclosure mediation session with a representative from their mortgage lender. A professional foreclosure mediator will be in attendance. And the homeowner can (and should) bring a lawyer as well.
Help Stop Foreclosures Las Vegas
Las Vegas homeowners who are worried about or facing foreclosure but are not familiar with the Nevad Foreclosure Mediation Program should make it their business to learn more about it. This is a very powerful tool for Las Vegas homeowners to have. Many other states have implemented similar programs, but Nevada’s is by far the strongest from the perspective of homeowners.
If you’re seeking Las Vegas bankruptcy lawyers who really know this topic inside and out, please contact us for a free foreclosure consultation and we’ll explain the ins and outs and ups and downs of this process. We help our clients by providing excellent bankruptcy information in Las Vegas and making sure our clients get the full benefit of federal and state bankruptcy laws.
The foreclosure and home sale numbers in Nevada look bad right now. But we’re here to help you avoid becoming one of those statistics and get your financial life back in order.