A new study suggests that at least one type of foreclosure may be losing some of its stigma.
According to the 2012 Face of Foreclosure report, 45 percent of those surveyed felt that walking away from an underwater mortgage, or “strategic default,” is OK, while 45 percent thought homeowners should honor their financial obligations.
The housing market is finally showing signs of life. Southern Nevada still tops the list of cities with houses under water but sales are picking up. And increasingly, short sales and not foreclosures are driving those sales. So where is the Las Vegas housing market now? With a slight rise in home prices, are we actually seeing the end of bear market? What you should know about the new shape of the housing market and short sales.
Casino gaming wins took a tumble in May, while Las Vegas saw an increase in tourism. Economic analysts say Las Vegas is on pace to eclipse the number of visitors who came to the city in 2007, which was the height of the economic boom and visitation.
Nevada continues to top the foreclosure tables, even as the national economy recovers. Various types of rescue plans have been tried but they have not done much to change the way the real estate market operates.
A Nevada man who marketed home loan modifications to Spanish speakers throughout the Southwest is facing criminal charges. His arrest is the latest effort by the Nevada Attorney General to crack down on mortgage fraud.
Nevada Representative Joe Heck has introduced a new bill in congress that would give homeowners who have gone through foreclosure a second chance at buying a house. Heck's Second Chance at Homeownership Act would provide insured loans to individuals who have previously been foreclosed. Rep Joe Heck joins us to talk about his plan to give some Nevadans a second chance at home ownership.
It's tax filing season and as thousands of Nevadans continue to battle home foreclosure and unemployment, filing your taxes can raise a lot of questions. Meantime, this year filers can use an updated IRS smartphone app to check on their return and get help on any questions they may have about filing. Officials from the IRS will join us to take your questions about filing your 2011 tax return.
Nevada Attorney General Catherine Cortez-Masto has guts. She's taken on big banks, like Bank of America, for allegedly frauding homeowners in her state. On our show, we discuss what she can do as state attorney general, and whether her efforts will, in fact, help Nevada homeowners.
Do you have any questions or suggestions for the state's AG? Let us know in the comment section below.
Last week in the Republican debate in Nevada, Mitt Romney and other candidates said the government should back off and allow the housing market to correct itself. Federal programs to help distressed homeowners have largely fallen short in Nevada. Should the government be involved at all? What would a coherent federal program to help underwater homeowners look like?
Nevada Attorney General Catherine Cortez Masto is going after the banks. The AG's office has targeted Bank of America. Cortez Masto says she wants to go after the 2009 settlement with Bank of America over loan abuses involving its Countrywide Financial Corp. We talk with Nevada's AG about the issue.
Realtor Marlene Rogoff says new jobs, industry and keeping people from leaving Las Vegas are what she will focus on as mayor. Rogoff is the third candidate to jump into the 2011 mayoral race. She joins us to discuss why she wants to be the next mayor of Las Vegas.