LAS VEGAS (KLAS) — In one month, the moratorium on residential evictions and foreclosures will be lifted. Now, a local nonprofit is stepping in to offer homeowners a helping hand during this time.
Nevada Help Group is offering homeowners some assistance as they navigate the foreclosure process. The nonprofit says the number of foreclosures statewide could double, if not triple, once the moratorium is lifted.”
“The folks that misunderstood what it meant to take a forbearance on their payments and then all of a sudden they get several payments that accelerate it,” said Clinten O’Neal with Nevada Help Group. “If they couldn’t make one month, what does it look like to make several?”
Nevada Help Group is preparing for the build-up of potential foreclosures due to the economic fallout from COVID-19.
“Its going to fall on the little guy, the middle class hard worker that’s trying to pay for their home,” O’Neal said.
They want homeowners to know what options are available, no matter the situation.
“Even if they happen to be upside down on their property, we’ve gotten really good at doing short sales. Maybe they have a death in the family,” said Michael Huntsman, co-founder of Nevada Help Group.
The team will start by reviewing the homeowner’s situation. The client can get help filling out paperwork, receive advice from real estate attorneys and get resources on how to buy more time.
The team tries to exhaust every retention option to help the individual keep their home.
“If it comes that it’s not a possibility we want to be sure that we can match them up with potential buyers to get the most out of their property,” Huntsman said.
Nevada Help Group wants to give families more authority, saying banks will not look out for their best interest.
“We believe the lenders have professionals on their side, its only fair that families have professionals on theirs,” Huntsman said.
Nevada Help Group offers these services in English and in Spanish.
For more information on the nonprofit, CLICK HERE. You can also contact them at (833) 684-3574.