Campaign Offers Advice for Struggling Homeowners - 8 News NOW

Campaign Offers Advice for Struggling Homeowners

Posted: Updated:
  • HousingMore>>

  • RealtyTrac: profits for Nevada home flippers getting slim

    RealtyTrac: profits for Nevada home flippers getting slim

    Friday, August 22 2014 4:22 PM EDT2014-08-22 20:22:20 GMT
    Outside of Washington, D.C., Nevada in the second quarter of 2014 led the nation in the percentage of residential sales classified as flipped homes but that percentage is slipping and so are the gross profits resulting from such flips, according to data released by RealtyTrac Thursday night.More>>
    Outside of Washington, D.C., Nevada in the second quarter of 2014 led the nation in the percentage of residential sales classified as flipped homes but that percentage is slipping and so are the gross profits resulting from such flips, according to data released by RealtyTrac Thursday night.More>>
  • Cash sales continue to dominate Las Vegas housing market

    Cash sales continue to dominate Las Vegas housing market

    Tuesday, August 19 2014 12:02 AM EDT2014-08-19 04:02:36 GMT
    Cash sales continued to dominate the housing market in Las Vegas in the second quarter of 2014, accounting for 50.7 percent of all residential sales, RealtyTrac reported Monday night.More>>
    Cash sales continued to dominate the housing market in Las Vegas in the second quarter of 2014, accounting for 50.7 percent of all residential sales, RealtyTrac reported Monday night.More>>
  • Nevada sees July spike in foreclosure starts

    Nevada sees July spike in foreclosure starts

    Thursday, August 14 2014 3:04 PM EDT2014-08-14 19:04:45 GMT
    Nevada led the nation in July with a 128 percent increase in residential foreclosure starts from the same month a year ago, RealtyTrac reported Wednesday night.More>>
    Nevada led the nation in July with a 128 percent increase in residential foreclosure starts from the same month a year ago, RealtyTrac reported Wednesday night.More>>

LAS VEGAS - Like many people in the valley, Bonita Delanghe is reaching for a life line.

"I'm here for my children, who both have a situation," she said. "My son's been making interest-only payments for about five years, and he's probably $300,000 underwater. My daughter is facing a foreclosure. She's behind on her mortgage."

Tuesday night, Delanghe hoped to hear anything that will help her children.

"People are scared. There's a lot of fear, and I think you have to work with kid gloves, and you have to really care," said Las Vegas City Councilman Steve Ross.

Coldwell Banker Premier Realty sponsors the Neighborhood Awareness Campaign, which includes information sessions like the one Delanghe attended Tuesday night. The campaign provides free advice for homeowners trying to decide whether to stay in their homes, foreclose or file for bankruptcy. In addition to Ross, an attorney and a certified public accountant were available to give advice and analyze people's situations.

"People don't have to pay for help, and it's important to understand that," said Diane Varney with Coldwell Banker. "There are people out there. There are professionals in this community that will help homeowners go through this challenging process in their lives for free, at no cost."

Coldwell Banker focused on short sales Tuesday night as the number of foreclosures in Nevada has come to a screeching halt.

New state legislation requires banks to first have their paperwork in order - reducing notices by 96%. That means banks don't have enough homes to sell, and it makes for a good time to short sell a home.

"We're at about 10,000 homes to sell right now. We sell roughly 5,000 a month, so that's a two-month supply of homes that we have to sell," said Varney.

Coldwell Banker says there is more incentive for homeowners to short sell, and it's less damaging to their credit than foreclosure.

More information sessions are scheduled throughout the valley. The next one takes place Wednesday, December 7 from 6 p.m. to 7 p.m. at the Silver Springs Recreation Center, 1951 Silver Springs Parkway in Henderson. Learn more about the program by calling 458-7070.

RSVP for the Henderson Information Session

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KLAS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.