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Facing Nevada Foreclosure? Know your Options. A Las Vegas Short Sale in Nevada may be one. Las Vegas Short Sale specialists.

By
Real Estate Agent with Keller Williams Las Vegas S.0075212
  • Facing Nevada Foreclosure? Know Your Options. Consider A Las Vegas Short Sale in Nevada
  • Address:Las Vegas, NV 89128 (map)
  • Date Posted: -7/31/2010

Options for Distressed Homeowners with properties in Nevada - by Lori Ballen Wekerle and her team of Las Vegas Short Sale Specialists of Nevada - Coldwell Banker Wardley Real Estate Services.

Although Homeowners who are at risk of default or who have defaulted or who have defaulted on their mortgage may believe that foreclosure is their only solution to mortgage problems, there are options available to them.

Home Affordable Foreclosure Alternatives Program (HAFA)
HAFA is the government’s newest tool to help homeowners avoid foreclosure. HAFA provides for lenders and homeowners to carry out a short sale or deed-in-lieu of foreclosure. The current incentive for homeowners is $3,000 for a successfully completed short sale or deed-in-lieu of foreclosure.

Home Affordable Modification Program (HAMP)
HAMP is for homeowners who are struggling with mortgage payments and think that a lowered interest rate could bring their payments to an affordable level. These loan modifications are ideal for homeowners whose mortgage payments are just out of reach.

Second Lien Modification Program (2MP)
2MP is for homeowners who are struggling with payments in part because of a seconds lien on their home. For those who are eligible, the program offers a way to lower payments on their second mortgage. 2MP is a complementary program to the Home Affordable Modification Program (HAMP), so it is meant for those who have already modified their first mortgage through HAMP.

Home Affordable Refinance Program (HARP)
If you are unable to lower the interest rate on your mortgage (possibly due to decreased home value), but are caught up on your mortgage payments, HARP may allow you to refinance.

Sell and Bring Cash to Closing
Although many homeowners today may not have the necessary cash to cure deficiencies at closing, they may have to liquidate assets, e.g., U.S Treasury Bonds, individual retirement accounts (IRAs), to do so. By Curing deficiencies at closing, homeowners can avoid the credit damage that a short sale or foreclosure can cause. However, homeowners are strongly encouraged to consult with finance and tax professionals before bringing liquid assets to closing.

Lender Workout
Lenders often will work with distressed homeowners to help them keep their homes by reducing or rolling back interest rates, forgiving back payments, adding them to the loan amount or possibly recasting the entire loan and wrapping all fees into a fixed-rate mortgage.

Need to sell your Las Vegas, North Las Vegas, or Henderson Real Estate? Let Coldwell Banker Wardley Las Vegas Real Estate provide you with the best marketing and customer service in the Valley! Facing Las Vegas Foreclosure? Need to sell – but owe more than your property is worth? We can help! Coldwell Banker Wardley has top Las Vegas Short Sale Agents! With one of the highest success rates in closing Las Vegas Short Sales, the Coldwell Banker Wardley Brokerage is on your side. 

Call 702-482-7739 to sell your property today.
http://www.yournevadaagents.com - E-mail: sold@yournevadaagents.com

Contact Coldwell Banker Wardley Real Estate Services

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Lori Ballen

 
Digital Marketing Strategist
Ballen Brands - Helping Business Professionals Rise Above the Noise.
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