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Foreclosure in Nevada : Real Estate Advice

  • All107
  • Local Info6
  • Home Buying65
  • Home Selling16
  • Market Conditions1

Activity 342
Fri Mar 15, 2013
Donald Mituzas answered:
You can always offer less. Keep in mind, that it the property is well priced you may be competing with other buyers who are willing to pay over asking. Which is more important, buying the property or getting a better price? You could miss out on some great buys if your offer is too low. A bank can always come back with a counter offer, but if there are other buyers looking at this property you may be out of the game before it begins.

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
http://www.donmituzas.com
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Thu Feb 21, 2013
Suzie Marquardt answered:
I would suggest that you seek an attorneys advice. There are so many things that can happen with a bankruptcy and especially with the type of multiple party situation you are describing
Thank You
Suzie Marquardt
www.FastNevadaShortSales.com
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Wed Feb 13, 2013
Kenneth Burrows answered:
Here is a good link to search for. If you find something we can issue you a pre-approval within an hour.

http://www.realtytrac.com/mapsearch/nv/clark-county/laughlin/?address=Laughlin%2C%20NV%20&parsed=1&ct=laughlin&stc=nv&lat=35.1674880981445&lon=-114.572639465332 ... more
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Tue Feb 12, 2013
Nadia Lewis answered:
Hi,

You have options: I can Help. I have Buyers/Investors ready to buy in your area.

If you are someone you know is facing financial hardship, owes more than their home is worth, and needs to sell, please have them call me 702.219.6884 We have experience and success working with almost EVERY lender including Bank of America, Chase, CitiMortgage, SunTrust, BB&T, Regions, RBC, Wells Fargo, GMAC, and more.

Please send your Address to your home to VegasBuyersAgent@yahoo.com, I will do a free market analysis on your property to help you get your home sold fast.

Keller Williams Southern Nevada
Nadia Lewis
2900 W Horizon Ridge Pkwy Ste 101
Henderson Nevada 89052
702-219-6884
www.nadialewis.com
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Wed Dec 5, 2012
Myra Gouger answered:
Somehow I don't think they are your personal property on the appliances. Personal property in real estate in NV means that they are not affixed to the wall. That doesn't make them YOUR personal property. They are and remain the property of the landlord. I think you need to bring them back to the home. ... more
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Mon Nov 26, 2012
Anna M Brocco answered:
You really should be consulting with an attorney; don't just rely on online information...
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Sun May 11, 2014
Myra Gouger answered:
Yes the sale was legal. You also have no recourse to sue anyone. The investment company is the real owner now.
0 votes 11 answers Share Flag
Fri Nov 16, 2012
Johnny James answered:
In a short sale there are a lot more steps to take. A foreclosure the bank is ready to sell the property.
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Thu Nov 15, 2012
Scott Godzyk answered:
It could, it depends if it is on your credit, it depends what happens with the mortgage on the condo that was foreclsoed on. you should meet with a local and trusted loan officer who can prequailify and guide you through the process. ... more
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Wed Nov 14, 2012
Suzanne MacDowell answered:
The bank is responsible. if they own the property then they have to pay the taxes. And if they foreclosed on a home that had taxes due at the time, them they should have had to bring those taxes current when they took back ownership of the property. Property taxes follow the property, not the owner. At least that is my understanding, you may want to check that with a lawyer or call the town's taxation office and ask them. It's possible the town simply has not updated their records and sent the tax bill to the wrong person. ... more
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Sat Nov 10, 2012
Myra Gouger answered:
Your mother is responsible for property taxes until the home is sold at auction. At that time, usually the unpaid taxes become part of the new owner's closing costs. If the taxes are not paid when the new owner closes, they don't get a clear title and there would be a lien placed against the new property owner for the taxes. Sorry you couldn't sell the home. Why didn't you try a short sale many months ago before it got to this auction deadline? ... more
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Sat Feb 16, 2013
David Cooper answered:
By renting out REO’s, banks are no longer under pressure to sell distressed inventory as they now have cash flow from renting out the foreclosure.


The market manipulation became official on April 5, 2012 when the Federal Reserve issued a policy statement that banks are now allowed to rent out REO’s:http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20120405a1.pdf


Before April 5, 2012, banks were forbidden from renting out REO’s. It was either sell and take a financial hit or keep the REO on the books and bleed money from deadbeat mortgages.


Federal law: 12 U.S.C. § 29, (http://www.gpo.gov/fdsys/pkg/USCODE-2011-title12/html/USCODE-2011-title12-chap2-subchapI-sec29.htm), allows banks to hold foreclosures up to 5 years.

If banks show “good faith”, they can extend the holding period for another 5 years. In effect, withholding inventory for up to 10 years, which is what we are seeing now.

With the Fed’s ZIRP program and the REO-to-rental policy, there is no reason for banks to release shadow inventory. This leads to the low inventory we are seeing now in certain markets.
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Tue Oct 23, 2012
Suzanne MacDowell answered:
You need to find out if there is a redemption period in your state, what that period of time is, and if you are within that time frame you can still redeem the property, pay the lien and get it back. Find another attorney, FAST!

You may also be able to reverse things based on failure to serve you properly with the notices.
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Wed Oct 17, 2012
Trulia Las Vegas asked:
To combat blight in its neighborhoods, the North Las Vegas City Council voted on an ordinance that would require foreclosed properties to be registered with the city and maintained. Wha...
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Thu Oct 18, 2012
Ron Thomas answered:
The Bank Foreclosing, the County is scheduling the Trustee Sale:
The Couty will be responsible for posting the NOTICE on your door and showing the notice in the local newspaper. They are required by the Court to give reasonable notice. I think that Newspaper Ad has to run for 14-30 days, (varies, from State to State).

Good luck and may God bless
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Fri Dec 14, 2012
Ron Rovtar answered:
Hi Sandrats:

Sorry you are in this situation! The economy is still healing, but we are not back to normal yet. Before you do anything, I would suggest you talk to a local HUD-approved counseling service. This is a free service so don't go to anyone who asks for some of that $32! You need that for other things. You can find the closest service at the link below.

Good Luck!

Ron
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Wed Oct 17, 2012
Nakia Woodson answered:
Yes an HOA can foreclose on you. Even if you are not delinquent on your mortgages. NV is pro HOA, pay quickly or reach a settlement.

Thanks,

Nakia Woodson
Wardley Real Estate
702-318-1244 ... more
0 votes 16 answers Share Flag
Tue Sep 25, 2012
Ricky Beach answered:
Many times the bank will extend the trustee sale date but we've seen them let it go to foreclosure. Have your agent make sure the listing agent is getting the loss mitigation and asset management departments in touch with each other. Poor communication is usually what allows them to be foreclosed on during escrow. ... more
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Thu Nov 15, 2012
David Cooper answered:
Anything attached belongs to the house. Could open you up to serious legal problems


David Cooper Investor 702-499-7037
0 votes 7 answers Share Flag
Sat Sep 15, 2012
Aaron Sims answered:
http://www.makinghomeaffordable.gov/programs/exit-gracefully/Pages/hafa.aspx
888-995-HOPE (4673)

I just looked up HAFA and got that phone number from the above website. You are represented by a Realtor so it would be unethical of me or anyone else here to give you advice. If you believe your Realtor has been less than honest and not represented you as you believe she should have then you should try and speak to her, her office manager, or broker. HAFA seems to be something run by the Government so not sure your Realtor can do anything about it, I could be wrong though.
I wish you the best!
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