http://mylasvegasrealty.com/Real Estate Informationen-usThu, 07 Apr 2011 21:10:00 GMT10GDRSSFeeds v1.0http://mylasvegasrealty.com/blog/2011/04/07/how-the-market-looksI'll be blogging here on market news, legal news and maybe even some political news.<P><a href="http://mylasvegasrealty.com/blog/2011/04/07/how-the-market-looks" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2011/04/07/how-the-market-looks#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2011/04/07/how-the-market-looksThu, 07 Apr 2011 21:10:00 GMThttp://mylasvegasrealty.com/blog/2010/06/30/equator-system-for-boagood-or-bad<h3><span style="font-family: Arial; color: red; text-decoration: underline">EQUATOR SYSTEM FOR BANK OF AMERICA DOWNFALLS</span></h3> <p style="margin: 0pt"><span style="font-family: Arial">Many new Short Sale Agents think that the new BOA Equator System is good thing.&nbsp; They upload their documents and can see they are in the system and well la! They are off to a good start!&nbsp; I have to agree that the upload documents for a brand new, never been requested Short Sale is much easier than the old fax it in 100 times and hope their fax machine can handle 70+ pieces of paper and the fax number the minimum wage person you spoke to when calling the main, actually gave you the correct fax number.&nbsp; But all in all I do not find the process to be an overall great improvement.&nbsp; In fact the new system has allot of downfalls and pitfalls.&nbsp; #1 if they mistakenly delete your file...did you KNOW YOU need to re-upload the entire file again and start over from scratch? This includes countered files and approved files that have been in the system for MONTHS AND MONTHS!&nbsp; Also many of the "Negotiators" are new to the system and do not know how to properly work the system.&nbsp; Many do not know to check and see if there is MI on the loans! </span></p> <p style="margin: 0pt">&nbsp;</p> <p style="margin: 0pt"><span style="font-family: Arial">Unlike the old system which we will all agree was S...L...O...W!&nbsp; At least if you received written approval and the buyer walked, you could send in a new offer with a new buyer and as long as the net to the bank was the same and the numbers matched you could get a new written approval with-in 2 weeks or less.&nbsp; Now? Well you need to start over and they give you a brand new negotiator for the next deal.&nbsp; Who comes up with a whole new set of numbers the "Investor" wants. </span></p> <p style="margin: 0pt">&nbsp;</p> <p style="margin: 0pt"><span style="font-family: Arial">Also what is the point of sending in a HUD1 if they are only going to ask the Agents to fill it out each time they send you a counter offer? &nbsp;</span></p> <p style="margin: 0pt">&nbsp;</p> <p style="margin: 0pt"><span style="font-family: Arial">How many times do you e-mail with no response on the other end? </span></p> <p style="margin: 0pt">&nbsp;</p> <div style="margin: 0pt"><span style="font-family: Arial">Also how come if the Agents don't do a task in time the system will close the file out.&nbsp; But if the Negotiator is past due nothing happens?&nbsp; Agents work on commissions and I think Negotiators should as well.&nbsp; Can you imagine how many short sales would be approved more quickly if the negotiators were only paid on closed transactions?&nbsp; Bet they would be working them much faster then!</span> <div>&nbsp;</div> <div>Also when the Negotiator gets a new task they get 3 weeks to complete it.&nbsp; So when you get a new counter they get an additional 3 weeks to respond to you.&nbsp; The Counter Offers just keep dragging the process out. Nothing faster about this!</div> <div>&nbsp;</div> </div> <p style="margin: 0pt"><span style="font-family: Arial">I was told that each negotiator has 400-450 files to work at a time!&nbsp; I suggest they cut some of the Fat from the CEO's BIG FAT BONUS! AND HIRE MORE HELP! Time is money!&nbsp;Can't they see that if they were able to hire 4 times more people and get the file closed faster they would be saving money?! There are home owners who have not made their payments in over a year and who have been trying to do a Short Sale for 11 months!&nbsp; If the bank could have approved and closed the Short Sale with-in 60 days they would be saving money.&nbsp;The amount of&nbsp;low hourly wage they are paying the negotiators would be off set by&nbsp;closing the&nbsp;files faster and getting the bad asset off the books.&nbsp; Which brings me to the next point....</span></p> <p style="margin: 0pt">&nbsp;</p> <div style="margin: 0pt"><span style="font-family: Arial">Did you know that&nbsp;BOA is just the servicing company for Fannie, Freddie &amp; FHA loans.&nbsp; That these bad assets do&nbsp;NOT have a negative impact on the banks actual bottom line lending from the&nbsp;Treasury.&nbsp; They move at a snails pace on these files because the amount of loss really has no&nbsp;impact on their books. That's why they don't hire more&nbsp;people!&nbsp; They really don't care how long it takes! &nbsp; I was told this by a Negotiator from BOA who said they don't&nbsp;really care about&nbsp;these files so&nbsp;much&nbsp;because they don't&nbsp;have any impact on the bank.&nbsp; They are only servicing these files to help Fannie &amp; Freddie out!!!! &nbsp;&nbsp;</span> <div>&nbsp;</div> <div>So what is the solution?&nbsp; Well I guess we all just need to inform and educate our Clients that there is no&nbsp;FAST PASS for this ride!&nbsp;The process for a BOA Short Sale is much like standing in line at Disney Land for the most popular attraction durring spring break without a fast pass in hand. They have to be willing to wait it out ,hang in there and hope that the process runs smoothly.&nbsp; The reward in most cases is worth the wait, specially for a buyer who really wants the home.&nbsp; Buyers need to understand that if they are not willing to wait at least 90-120 days for a response from BOA that possibly this home is not the right match.&nbsp;&nbsp; Sometimes the approvals are much quicker, but it all depends on the Investor and in many cases the MI Company.&nbsp; We all need to learn to have allot of patience when dealing with a Short Sale with Bank of America.</div> </div> <p style="margin: 0pt">&nbsp;</p><P><a href="http://mylasvegasrealty.com/blog/2010/06/30/equator-system-for-boagood-or-bad" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2010/06/30/equator-system-for-boagood-or-bad#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2010/06/30/equator-system-for-boagood-or-badWed, 30 Jun 2010 16:51:00 GMThttp://mylasvegasrealty.com/blog/2010/03/21/foreclosure-alternative<div>The Home Affordable Foreclosure&nbsp;Alternative launched on April 5, 2010.&nbsp;&nbsp; Homeowners struggling to sell their homes in a short sale are getting some relief, thanks to the federal government's HAFA program.&nbsp; </div> <div>&nbsp;</div> <div>Up until now, many short sales - in which the lender accepts a sale of the property for less than the full amount owed - have taken months to complete.&nbsp; Sometimes, the complex and lengthy process has failed, resulting in foreclosure.</div> <div>&nbsp;</div> <div>Prior to the HAFA program, homeowners listed their homes for sale without any idea if the lender holding their note (or notes) would accept the short sale.&nbsp; </div> <div>&nbsp;</div> <div>Under the Home Affordable Foreclosure Alternative program, borrowers receive the preapproved short sale terms from the lender prior to putting the home on the market.&nbsp; The updated short sale guidelines establish easy to understand process with pre-defined steps that make it easier for everyone to understand.</div> <div><strong>&nbsp;</strong> <div><strong>Eligibility Requirements</strong></div> </div> <div><u></u>&nbsp;</div> <div>The HAFA guidelines apply to lenders who voluntarily participate in the HAMP (Home Affordable Modification Program). &nbsp;The <YGG:ENTITY id="t1" ref="#TNIh0HT73BGcQT93XWfsEA">Department of Housing and Urban Development</YGG:ENTITY> says more than 100 servicers have signed up to participate in HAMP, covering more than 89 percent of mortgage debt outstanding in the country<u>.</u> <div>&nbsp;</div> To be eligible for HAFA, homeowners must first apply for a loan modification through the <a href="http://makinghomeaffordable.gov/" rel="nofollow" target="_blank"><u>Home Affordable Modification Program</u></a>, or HAMP. Owners who do not qualify for a loan modification or miss payments during the initial loan modification period qualify for HAFA.<br /> </div> <div>&nbsp;</div> <div><strong>Property and Homeowner Requirements.</strong> <div> <ul> <li>Property is principal residence.</li> <li>Mortgage originated before Jan. 1, 2009.</li> <li>Mortgage is owned or guaranteed by <YGG:ENTITY id="t2" ref="#xE1c9hH23BGXl8h4XWfsEA">Fannie Mae</YGG:ENTITY> or <YGG:ENTITY id="t3" ref="#lt9c9hH23BGXl8h4XWfsEA">Freddie Mac</YGG:ENTITY>.</li> <li>Borrower is delinquent or default is foreseeable.</li> <li>Homeowner demonstrates hardship.</li> <li>Borrower's total monthly housing payment exceeds 31 percent of gross income.</li> <li>Unpaid principal does not exceed $729,750. </li> </ul> <p class="hide">&nbsp;According to HAFA rules, lenders now must offer a short sale in writing to the borrower within 30 days if the borrower does not qualify for or complete a loan modification. Borrowers then must respond within 14 days to the lender's short sale agreement.</p> <p>&nbsp;When a purchase offer is made, borrowers must submit the sales contract to the lender within three days, along with the buyers' mortgage preapproval and the status of negotiations with other lien holders on the seller's property.</p> <p>Finally, lenders must approve or deny the contract within 10 days.</p> <p>HAFA rules also state that lenders must release borrowers from the obligation to repay the difference between the sales price and the loan amount. <strong>No deficiency judgments are allowed for a first or second loan. </strong></p> <h2 style="font-size: 12pt"><span style="font-size: 10pt">In the past, short sales were especially difficult for homeowners with more than one loan on their home, since the home sale typically repaid only the first mortgage. HAFA's financial incentives include a payment of up to $3,000 for second mortgage holders</span>. </h2> <p>&nbsp;</p> <p>Other HAFA financial incentives include $1,000 to loan servicers to cover administrative fees, up to $1,000 for mortgage investors who agree to share short sale proceeds&nbsp;with second lien holders and $1,500 to the homeowners for relocation.</p> <p>The moving expense allocation acts as an incentive for them to stay in the property until the short sale goes through.&nbsp;&nbsp;<span class=" href_cetemp=" ?><cite><cite><cite><cite></p> </cite></cite></cite></cite></span></div> </div><P><a href="http://mylasvegasrealty.com/blog/2010/03/21/foreclosure-alternative" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2010/03/21/foreclosure-alternative#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2010/03/21/foreclosure-alternativeSun, 21 Mar 2010 12:57:00 GMThttp://mylasvegasrealty.com/blog/2009/09/06/banks-fraud-stockholders<div style="font-family: Tahoma; font-size: 14pt"><strong><span style="color: #339966"><span style="color: #339966"><span style="font-size: 24pt"><span style="font-size: 14pt"><span style="font-family: Verdana; color: #ff0000; font-size: 14pt">LA<span style="font-family: Tahoma">R<span style="font-family: ">GE BANKS ARE FRAUDING THEIR STOCKHOLDERS BY PADDING THEIR BOOKS AND NOT DISCLOSING ALL THE BAD ASSETS!!!!</span></span></span></span></span></span></span></strong></div> <div><span style="color: #339966"><span style="color: #339966"><span style="font-size: 24pt"></span></span></span>&nbsp;</div> <div style="font-size: 12pt">It has come to my attention that several large banking institutions are padding their books and giving stock holders faulty information as to how bad the Foreclosure market is really impacting their investors.&nbsp; We have one client who has a home loan with <span style="color: #0000ff"><strong>Bank of America</strong>.&nbsp;</span> He stopped making his payments in February of <strong>2008</strong>.&nbsp; He did not receice a <strong>Notice of Default until June of 2009</strong>!&nbsp; This home should have been Foreclosed on over a year ago!&nbsp; And it's not a small home loan.&nbsp; He owes over $1,100,000 on the home!&nbsp; He is not the only client with this bank that we have heard this about.&nbsp; We have several other people that we know of who have not made payments for over 10 months and still have not received a Notice of Default.&nbsp; </div> <div style="font-size: 12pt">&nbsp;</div> <div style="font-size: 12pt">There a slew of Lot Loans and Construction Loans that are in Default.&nbsp; With Construction Loans being virtually impossible to obtain, many of these land owners are just walking away.&nbsp; They can not afford to keep making payments on land they will never be able to afford to build on.&nbsp; <span style="color: #ff00ff"><strong>WHAT ARE THESE BANKS THINKING?! </strong></span>The Private Investors are NOT&nbsp;Clearly Thinking this through.&nbsp; They are causing the CRASH in the Luxury Home Market and are going to be sitting on a ton of Vacant Land for years to come!&nbsp; Currently there are 1136 parcels of Land on the MLS, this does not include all the Broker held Commercial Land&nbsp;available. In the past 12 months only 85 parcels have sold! There are over 300 more&nbsp;custom lots that can not get construction loans.&nbsp; Bank Of America&nbsp;is one of the LARGEST Lot Loan Holders and has no Consturction Loan Program&nbsp;for home owners.&nbsp; What are these people suppose to do with their land when the bank they took the loan from with the intent to buy and build has pulled all their construction loans?!&nbsp; Leaving the owners high and dry!&nbsp; If the owners had the cash to build they would have paid CASH for the LAND to begin with!&nbsp; These banks have CRASHED our Market and Left people standing there say..."What Do I Do Now?"&nbsp; "Will I Ever be able to build?" "Do I keep paying on land that the bank sold to me and then removed all ability to build on?"&nbsp; The banks deciding&nbsp;,<span style="color: #ff00ff"><strong>AFTER</strong></span>&nbsp;loaning $400+ million dollars in Lot Loans,&nbsp;to pull construction loans is like giving a person a car with no wheels or engine and&nbsp;then saying they aren't going to supply the parts to make it run after they bought the body.&nbsp; </div> <div style="font-size: 12pt">&nbsp;</div> <div style="font-size: 12pt">The banks continue to made bad decissions and do so while eating&nbsp;up our American Tax Dollars.&nbsp; What do they care?&nbsp; They have our BAIL OUT MONEY!&nbsp; Where is the&nbsp;BAIL OUT MONEY for these&nbsp;Home/&nbsp;Lot owners?&nbsp; We are all victims to the bad lending practices of the Banks!&nbsp; The CEO's&nbsp;are getting their FAT Bonus Checks!&nbsp; What do we get? We get to continue making&nbsp;payments, if we can, on homes that if we are lucky are worth 1/2 of what we owe.&nbsp;&nbsp;</div> <div style="font-size: 12pt">&nbsp;</div> <div style="font-size: 12pt">The WORST Part is these banks are not fully disclosing their bad Assets or the amount of Loans that they have out on Land that will most likely NEVER be developed and faces<strong> <span style="color: #3366ff">HIGH RISK of FORECLOSURE! </span></div> <div style="font-size: 12pt">&nbsp;</div> <div style="font-size: 12pt">&nbsp;</div> </strong><P><a href="http://mylasvegasrealty.com/blog/2009/09/06/banks-fraud-stockholders" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/09/06/banks-fraud-stockholders#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/09/06/banks-fraud-stockholdersSun, 06 Sep 2009 10:01:00 GMThttp://mylasvegasrealty.com/blog/2009/05/21/short-sale-agents-csp-designationWhen looking into doing a Short Sale the biggest mistake a Seller can make is not Listing their property with an Agent who is highly educated and&nbsp;Certified in Short Sales.&nbsp; Make sure the Agent has an CSP Designation.&nbsp; Too many Agents are Advertising themselves as Short Sale Experts who are not.&nbsp; There are key aspects to being successful in Listing and Selling Short Sale Property.&nbsp; Agents who know what they are doing, who are trained and certified have a higher success rate in closing a transaction than those who do not.&nbsp;<P><a href="http://mylasvegasrealty.com/blog/2009/05/21/short-sale-agents-csp-designation" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/05/21/short-sale-agents-csp-designation#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/05/21/short-sale-agents-csp-designationThu, 21 May 2009 10:31:00 GMThttp://mylasvegasrealty.com/blog/2009/05/13/tax-ramifications-on-a-short-sale<p style="font-size: 12pt">Many people want to know the Tax Ramifications on a Short Sale.&nbsp; Know the difference between <strong>Recourse vs. Non-Recourse Loans.</strong>&nbsp; Make sure to speak to a Real Estate Tax Accountant or a Real Estate Attorney about your situation with regards to Taxes on a Short Sale.&nbsp; NOT all Accountants understand the tax issues with regards to Short Sales.&nbsp; You need to make sure you are speaking with someone who is up on the new laws, bills and what is going on with Short Sales. Know that with a Foreclosure there are also Tax Ramifications that maybe more harsh than a Short Sale.&nbsp; MAKE SURE TO SPEAK TO AN EXPERT!</p><P><a href="http://mylasvegasrealty.com/blog/2009/05/13/tax-ramifications-on-a-short-sale" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/05/13/tax-ramifications-on-a-short-sale#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/05/13/tax-ramifications-on-a-short-saleWed, 13 May 2009 14:27:00 GMThttp://mylasvegasrealty.com/blog/2009/03/19/qualify-for-refinance<div>Do you qualify for refinance or any other aspect of the President's new Help For Homeowners Program?&nbsp; </div> <div>&nbsp;</div> <div><a href="http://www.makinghomeaffordable.gov/eligibility.html">Go here to find out.</a> <br /> </div><P><a href="http://mylasvegasrealty.com/blog/2009/03/19/qualify-for-refinance" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/03/19/qualify-for-refinance#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/03/19/qualify-for-refinanceThu, 19 Mar 2009 15:16:00 GMThttp://mylasvegasrealty.com/blog/2009/03/15/las-vegas-home-sales-improve<div>Las Vegas is number 15 in improved home sales nationwide.&nbsp; That's a bit of hope based on the&nbsp; 89131 zip code.<br /> </div> <div>&nbsp;</div> <div><a href="http://images.businessweek.com/ss/09/03/0305_fastest_selling_zips/16.htm">Go here for more. </a><br /> </div><P><a href="http://mylasvegasrealty.com/blog/2009/03/15/las-vegas-home-sales-improve" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/03/15/las-vegas-home-sales-improve#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/03/15/las-vegas-home-sales-improveSun, 15 Mar 2009 01:31:00 GMThttp://mylasvegasrealty.com/blog/2009/03/06/nevada-foreclosure-process-what-is-it<span style="font-size: 18pt;"> <p><strong></strong></p> </span> <div><span style="font-size: 18pt;"> <p><strong><span style="font-family: Arial;">Foreclosure</span></strong></p> </span></div> <span style="font-size: 18pt;"> <p><strong><span style="font-family: Arial;">Foreclosure Process</span></strong></p> </span> <p><strong></strong></p> <p><strong><span style="font-family: Arial;">Given that this is such a common occurrence and such a common word these days, I thought my readers might like some information on Foreclosure in Las Vegas and Nevada.</span></strong></p> <p><strong><span style="font-family: Arial;">How Does a Foreclosure in Nevada Work?</span></strong></p> <p><strong><span style="font-family: Arial;">Some Terms you'll need to know: </span></strong></p> <p><strong><span style="font-family: Arial;">1. Judicial Foreclosure - A foreclosure that is accomplished when your lender files for a foreclosure in the Nevada Court System. </span></strong></p> <p><strong><span style="font-family: Arial;">2. Non-Judicial Foreclosure - a covenant, provision or contract term in your mortgage loan agreement, promissory note or deed of trust which provides that the lender can foreclose upon you without going to court. &nbsp;This is the most common method of foreclosure in Nevada. &nbsp;</span></strong></p> <p><strong><span style="font-family: Arial;">3. Power of Sale Provision, or Trustee's Power of Sale. See number 2 above, a contract term in your loan documents which allows your lender to foreclose upon your house without filing against you in court. </span></strong></p> <p><strong><span style="font-family: Arial;">4. Deed of Trust. Without getting too technical, the Deed of Trust is, in essence, the same as a mortgage. &nbsp;Essentially it is a trust that says, the homeowner owns the house, but owes the lender money, if the homeowner stops paying the lender, the lender can take the house back. </span></strong></p> <p><strong><span style="font-family: Arial;">Nevada</span></strong><strong><span style="font-family: Arial;"> allows both judicial in court or non judicial out of court foreclosures.&nbsp; If your loan documents contain a power of sale provision, or if the deed of trust or mortgage on the house contains a power of sale clause, the bank will most likely pursue foreclosure without petitioning the court to do so.&nbsp; Most deeds of trust or mortgages in Nevada do contain a power of sale clause.&nbsp; This is a big benefit to the banks.&nbsp; By obtaining a foreclosure out of court, the bank saves both time and money.&nbsp; </span></strong>...(Continued)...</p><P><a href="http://mylasvegasrealty.com/blog/2009/03/06/nevada-foreclosure-process-what-is-it" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/03/06/nevada-foreclosure-process-what-is-it#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/03/06/nevada-foreclosure-process-what-is-itFri, 06 Mar 2009 17:27:00 GMThttp://mylasvegasrealty.com/blog/2009/03/03/loan-modification-no-longer-a-scam<div>Our beloved House of Representatives, the most 'responsive' of our legislative branch because they are elected every two years - may be doing something that will get homeowner's relief by way of loan modification, without forcing homeowners to file bankruptcy and hope for a Cram-Down.&nbsp; It might just help. <a href="http://news.yahoo.com/s/ap/20090304/ap_on_go_co/mortgages_bankruptcy">Go here to read more</a>.&nbsp; </div> <div>&nbsp;</div> <div>If you need help negotiating with your bank on a loan modification - when, and if, this law passes both houses of congress and is signed by the President - call David Otto &amp; Affiliates, PC.&nbsp; Until then, be careful about giving anyone money to do a loan modification.&nbsp; <br /> </div><P><a href="http://mylasvegasrealty.com/blog/2009/03/03/loan-modification-no-longer-a-scam" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/03/03/loan-modification-no-longer-a-scam#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/03/03/loan-modification-no-longer-a-scamTue, 03 Mar 2009 22:30:00 GMThttp://mylasvegasrealty.com/blog/2009/02/23/mortgage-stimulus<div style="line-height: normal;"><span style="color: black;">Are you entitled to a Homeowner Mortgage Stimulus?&nbsp;Can you get some of the Billions of Dollars being doled out to Banks and Businesses?&nbsp;&nbsp;Should you take it if you can?&nbsp;</span></div> <div>&nbsp;</div> <div>Check some details of the Obama Administration's Homeowner Affordability and Stability Plan to see if it will offer assistance to you.&nbsp; <span style="color: black;"> If you want to see pretty much all the information available publicly at this time follow this link to go to the <a title="Homeowner Relief Information" href="http://www.whitehouse.gov/blog/09/02/18/9-million-plus/">White House Blog</a><br /> </span></div> <div>&nbsp;</div> <div>Once there, click on the Executive Summary,&nbsp; Fact Sheet, Housing Example Sheet and the Q&amp;A links for a great explanation and examples of who can benefit.&nbsp; <br /> </div> <div>&nbsp;</div><P><a href="http://mylasvegasrealty.com/blog/2009/02/23/mortgage-stimulus" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/23/mortgage-stimulus#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/23/mortgage-stimulusMon, 23 Feb 2009 10:38:00 GMThttp://mylasvegasrealty.com/blog/2009/02/16/short-sales-can-take-a-long-time-las-vegas<p><img src="http://davidottolaw.com/images/wristwatch.jpg" alt="" width="280" align="right" />What is a Short Sale? &nbsp;&nbsp;&nbsp;</p> <p>When a home is listed and hopefully sold, for less than the seller owes on the mortgage.</p> <p>This will require approval from the lender.</p> <p>Who would do a short sale?</p> <p>Sellers who can't make their mortgage payments, or some who can, but who want&nbsp; 'out from under' a mortgage that isn't helping them reach their financial goals.<br /> <br /> Will this affect a seller and borrower's Credit Rating?</p> <p>It might, but, the mark left on a borrower's credit is slightly less damaging than a traditional foreclosure, or, if the deal is done right, there will be no negative mark at all. The option to sell at a loss is becoming popular in this market, that most of the sales being finalized in Las Vegas right now are short sales, or 'bank owned' 'REO' or foreclosed homes. </p> <p>Obviously, those of us who bought a home or refinanced a home in Las Vegas after &nbsp;2002 find themselves owing more on our houses &nbsp;than &nbsp;the house will bring on the open market. </p> <div>A short sale can help you get out of a bad mortgage.&nbsp; Getting the necessary bank sign offs on a short sale, could drive a seller crazy.&nbsp;&nbsp; Short Sales, can Take a Long Time.<br /> </div> <div>&nbsp;</div> <div>For information on how David Otto can help you with a Short Sale <a target="_blank" href="http://www.davidottolaw.com">go to</a> the firm website and click on the contact page for a free consultation.&nbsp; <br /> </div> <div>&nbsp;</div> <div>&nbsp;</div><P><a href="http://mylasvegasrealty.com/blog/2009/02/16/short-sales-can-take-a-long-time-las-vegas" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/16/short-sales-can-take-a-long-time-las-vegas#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/16/short-sales-can-take-a-long-time-las-vegasMon, 16 Feb 2009 18:33:00 GMThttp://mylasvegasrealty.com/blog/2009/02/14/pre-construction-deposits<img src="http://davidottolaw.com/images/High_Rise.jpg" alt="" width="241" align="right" /> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">During the Go Go years of Real Estate and Condominium Sales in <st1:city w:st="on"><st1:place w:st="on">Las Vegas</st1:place></st1:city>, most of the condominium purchase agreements were completely one-sided and favored the developers. Still, many people&nbsp;signed a contract to purchase a new condo unit. Most of these contracts seem to be nonnegotiable. </span>...(Continued)...</p><P><a href="http://mylasvegasrealty.com/blog/2009/02/14/pre-construction-deposits" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/14/pre-construction-deposits#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/14/pre-construction-depositsSat, 14 Feb 2009 14:34:00 GMThttp://mylasvegasrealty.com/blog/2009/02/12/modifying-a-mortgage-loan-in-a-chapter-13-bankruptcy<div style="font-size: 18pt;"></div> <span style="font-size: 14pt;"> </span> <div align="center"> <div align="left"> </div> <div> <div align="left"> </div> <div> <div align="left"> <div><span style="font-size: 14pt;"> <p>&nbsp;</p> </span></div> </div> </div> </div> </div> <span style="font-family: Arial;"> <div align="center"> <div> <div> <div align="left"> <div><span style="font-size: 14pt;"> <p><span style="font-size: 18pt;"><strong>Helping Families Save&nbsp;Their Homes in Bankruptcy Act&nbsp; of 2009</strong></span></p> </span></div> </div> </div> </div> </div> </span><span style="font-family: Arial;"> <div align="center"> <div> <div><span style="font-family: Arial;"> <div> <div align="left"><span style="font-size: 14pt;"> <p>&nbsp;</p> </span></div> </div> </span> <div> <div align="left"><span style="font-size: 14pt;"> <div></div> </span></div> <span style="font-size: 14pt;"> </span></div> </div> <span style="font-size: 14pt;"> </span> <div><span style="font-size: 14pt;"> <div>&nbsp;</div> <div><img src="http://davidottolaw.com/images/las_vegas_house.jpg" alt="" width="260" align="left" height="137" /></div> </span><span style="font-size: 14pt;"> </span></div> </div> </div> <span style="font-size: 14pt;"> </span> <div><strong style="font-size: 18pt;"></strong></div> <div align="left"><strong style="font-size: 18pt;"><span style="font-family: Arial;"><span style="font-size: 12pt;">To the best of our knowledge, what follows isn't the law yet.&nbsp; But then again, changes in the law have become exceedingly difficult to follow.</span></span></strong></div> </span> <div align="left"><strong style="font-size: 18pt;"> </strong></div> <div>&nbsp;</div> <div>&nbsp; <br /> </div> <div style="text-align: justify;"></div> <span style="font-family: Arial;"> <div style="text-align: justify;">The summary below, lays out some proposed changes in the bankruptcy code which might help homeowners keep their homes in a Chapter 13 Bankruptcy. &nbsp; <br /> </div> <p style="text-align: justify;">Section by Section Summary</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 1. Short Title. </em>Section 1 sets forth the short title of the bill as the <strong>"Helping Families Save Their Homes in Bankruptcy Act of 2009."</strong></p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 2. Eligibility for Relief. </em>Bankruptcy Code section 109(e) sets forth secured and unsecured debt limits to establish a debtor's eligibility for relief under chapter 13, currently equal to just over $1 million. Section 2 amends this provision to provide that the computation of debts does not include the secured or unsecured portions of debts secured by the <strong>debtor's principal residence,</strong> under certain circumstances. First, the exception applies if the current value of the debtor's principal residence is less than the secured debt limit. Second, the exception applies if the debtor's principal residence was sold in foreclosure or the debtor surrendered such residence and the current value of such residence is less than the secured debt limit. Without this provision, many struggling homeowners in high-cost areas such as California would be ineligible for relief.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;">In addition, section 2 amends Bankruptcy Code section 109(h) to waive the mandatory requirement that a debtor must receive credit counseling prior to filing for bankruptcy relief, under certain circumstances. The waiver applies in a chapter 13 case where the debtor submits to the court a certification that the debtor has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure proceeding against such residence.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 3. Prohibiting Claims Arising from Violations of Consumer Protection Laws. </em>Section 3 amends Bankruptcy Code section 502(b) to disallow a claim that is subject to any remedy for damages or rescission as a result of the claimant's failure to comply with any applicable requirement under the Truth in Lending Act or other applicable state or federal consumer protection law in effect when the noncompliance took place, notwithstanding the prior entry of a foreclosure judgment.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 4. Authority to Modify Certain Mortgages. </em> Section 4 amends Bankruptcy Code section 1322(b) to permit modification of certain mortgages that are secured by the debtor's principal residence in specified respects. The modification authority applies in a chapter 13 case where the debtor's principal residence is the subject of a notice that a foreclosure may be commenced. New section 1322(b)(11) allows the court to modify the rights of a mortgagee by: (1) providing for payment of the amount of the allowed secured claim as determined under section 506(a)(1); (2) prohibiting, reducing, or delaying any adjustable interest rates applicable on and after the date the case is filed; (3) extending the repayment period of the mortgage for a period that is no longer than the longer of 40 years (reduced by the period for which the mortgage has been outstanding) or the remaining term of the mortgage beginning on the filing date of the case; and (4) providing for the payment of interest at an annual percentage rate calculated at a fixed annual percentage rate equal to that used for conventional mortgages as published by the Board of Governors of the Federal Reserve System, plus a reasonable premium for risk.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 5. Combating Excessive Fees</em>. Section 5 amends Bankruptcy Code section 1322(c) to provide that the debtor, the debtor's property, and property of the bankruptcy estate are not liable for a fee, cost, or charge incurred while the chapter 13 case is pending and that arises from a debt secured by the debtor's principal residence, unless the holder of the claim complies with certain requirements. These requirements consist of the following: (1) the holder files with the court an annual notice of such fee, cost, or charge (or on a more frequent basis as the court determines) before the earlier of one year of when such fee, cost, or charge was incurred or 60 days before the case is closed; (2) the fee, cost, or charge is lawful under applicable nonbankruptcy law, reasonable, and provided for in the applicable security agreement; and (3) the value of the debtor's principal residence is greater the amount of the claim, including such fee, cost or charge. If the holder fails to give the required notice, such failure is deemed to be a waiver of any claim for fees, costs, or charges (as described in this provision) for all purposes. Any attempt to collect such fees, costs, or charges would constitute a violation of the Bankruptcy Code's discharge injunction under section 524(a)(2) or the automatic stay under section 362(a).</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;">Section 5 further provides that a chapter 13 plan may waive any prepayment penalty on a claim secured by the debtor's principal residence.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 6. Confirmation of Plan</em>. Section 6 amends Bankruptcy Code section 1325(a) to provide certain protections for a creditor whose rights are modified under new section 1322(b)(11). As a condition of confirmation, it requires a plan to provide that such creditor must retain its lien until the later of when the claim (as modified) is paid or the debtor obtains a discharge. In addition, the court must find that the modification is in good faith.</p> <p style="margin-bottom: 0in;"> </p> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 7. Discharge</em>. Bankruptcy Code section 1328 sets forth the requirements for discharge. Section 7 amends section 1328(a) to clarify that a claim modified under section 1322(b)(11) is not discharged to the extent of the unpaid allowed secured portion of the claim.</p> <p style="margin-bottom: 0in;"> </p> </span> <div><span style="font-family: Arial;"> <p style="text-align: justify; margin-bottom: 0in;"><em>Section 8. Effective Date; Application of Amendments</em>. Section 8(a) provides that the Act and the amendments made by it, except as provided in subsection (b), take effect on the Act's date of enactment. Section 8(b) provides that the amendments made by the Act apply to cases commenced under title 11 of the United States Code before, on, or after the Act's date of enactment.</p> </span></div> <div>&nbsp;</div> <div>David Otto is a Lawyer in Las Vegas, Nevada.&nbsp; He focuses on Real Estate Law, Disability Rights Law, and other areas of Civil Litigation.&nbsp; For more information go to davidottolaw.com, or call 702-379-6540<br /> </div> <div>&nbsp;</div> <div>&nbsp;</div> <span style="font-family: Arial;"> </span> <p style="text-align: justify; margin-bottom: 0in;"></p><P><a href="http://mylasvegasrealty.com/blog/2009/02/12/modifying-a-mortgage-loan-in-a-chapter-13-bankruptcy" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/12/modifying-a-mortgage-loan-in-a-chapter-13-bankruptcy#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/12/modifying-a-mortgage-loan-in-a-chapter-13-bankruptcyThu, 12 Feb 2009 11:12:00 GMThttp://mylasvegasrealty.com/blog/2009/02/11/truth-in-lending-imagine-that-nevada<p style="text-align: center; line-height: 150%;" align="center"><strong><span style="font-size: 16pt; line-height: 150%;">A Forensic Loan Audit can find violations of the </span></strong></p> <p style="text-align: center; line-height: 150%;" align="center"><strong><span style="font-size: 16pt; line-height: 150%;">Truth in Lending Act.</span></strong></p> <div><span style="line-height: 24px;">&nbsp;<span style="line-height: normal;"><img src="http://davidottolaw.com/images/bank-vault-door.jpg" alt="" width="265" height="199" /></span></span></div> <div><br /> </div> <div style="text-align: justify;">&nbsp;<span style="font-family: Arial;">The Truth in Lending Act or &nbsp;"TILA" for short, is a Federal Law that &nbsp;requires lending institutions and creditors to provide consumers with "clear and accurate disclosures of terms dealing with things like finance charges, annual percentage rates of interest, and the borrower's rights," including the right of rescission.&nbsp;</span></div> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">There were so many loan documents made in <st1:city w:st="on"><st1:place w:st="on">Las Vegas</st1:place></st1:city> over the past 5 years that many of them contain numerous TILA violations.&nbsp;&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">TILA provides that, when a loan made in a consumer credit transaction that is secured by the consumer's principal dwelling, the consumer has the right to rescind the transaction, which is to say, revoke the contract, until midnight of the third business day following the consummation of the transaction or delivery of the material disclosure and rescission forms, whichever is later. See 15 <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region> Code &#167; 1635(a).&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">If the creditor fails to deliver the forms, or fails to provide the required information, then the consumer's right of rescission extends for&nbsp;three years&nbsp;after the date of consummation of the transaction, or until the property is sold, whichever occurs first. See 15 U.S.C. &#167; 1635(f); 12 C.F.R. &#167; 226.23(a)(3). &nbsp;&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">Within 20 days after receipt of a notice of rescission from the consumer, the creditor shall take any necessary action to reflect the termination of any security interest created by the transaction.&nbsp;Which means release the deed of trust, unwind the sale of the home, etc.&nbsp;See 15 U.S.C. &#167; 1635(b).&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">Section 1640(e), of TILA states that all TILA claims must be brought "within one year from the date of the occurrence of the violation." See 15 U.S.C. &#167; 1640(e). The violation "occurs" when the transaction is consummated, loan documents signed etc. &nbsp;&nbsp;TILA's limitations period is subject to what we lawyers call "equitable tolling", however, in cases where the debtor has been prevented from bringing suit due to inequitable circumstances. &nbsp;&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">This is so in at least some Circuit Courts of Appeal, the 9th&nbsp;Circuit Court of Appeals doesn&#239;&#191;&#189;t seem to have addressed the issue just yet.&nbsp;I have a feeling they soon will.&nbsp;If a cause of action, or the reason for a lawsuit was fraudulently concealed from the consumer until after a year had passed the consumer would be prevented from pursuing the cause of action, this would be an "inequitable" or unfair result.&nbsp;Below there is a discussion of Equitable tolling. &nbsp;It should be noted, that many courts have held that the three-year rescission period supplied by &#167; 1635(f) is emphatically not a statute of limitations that is subject to tolling. So, it might be assumed that three years, is three years, no matter the equities. &nbsp;Perhaps the U.S. Congress can help us out there by changing the law.&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">Equitable tolling is principle of law stating that a statute of limitations shall not bar a claim in cases where the plaintiff, despite use of due diligence, could not or did not discover the injury until after the expiration of the limitations period.&nbsp;<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify;"><span style="font-family: Arial;">TILA violations may be used as a defense against foreclosure and as a defense against any deficiency actions to recoup the difference in price between the money loaned to a homeowner and the amount the lender recovered in a Trustee's <st1:city w:st="on"><st1:place w:st="on">Sale</st1:place></st1:city>. &nbsp;See 15 U.S.C. &#167; 1640(e).&nbsp;<o:p></o:p></span></p> <span style="font-size: 12pt; font-family: Arial;"> </span> <div> <div><span style="font-size: 12pt; font-family: Arial;"> <div style="text-align: justify;">So, no matter when the Statute of limitations has passed, it's a good idea to assert whatever TILA violations have occurred against the lender in a foreclosure, deficiency or bankruptcy.</div> <div>&nbsp;</div> </span></div> <div><span style="font-size: 12pt; font-family: Arial;"> <div>David Otto is a Lawyer in Las Vegas, Nevada.&nbsp; He focuses on Real Estate Law, Disability Rights Law, and other areas of Civil Litigation.&nbsp; For more information go to davidottolaw.com, or call 702-379-6540&nbsp;</div> </span></div> </div> <span style="font-size: 12pt; font-family: Arial;"> </span><P><a href="http://mylasvegasrealty.com/blog/2009/02/11/truth-in-lending-imagine-that-nevada" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/11/truth-in-lending-imagine-that-nevada#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/11/truth-in-lending-imagine-that-nevadaWed, 11 Feb 2009 21:08:00 GMThttp://mylasvegasrealty.com/blog/2009/02/11/keep-this-house-and-cram-it-down<div><strong>While it may be a last resort - Bankruptcy may help many homeowners in Las Vegas to stay in their houses.&nbsp; </strong></div> <div>&nbsp;</div> <div><strong></strong>As we all know - the Las Vegas Housing Market has experienced some of the highest foreclosure rates in the nation.&nbsp; There may soon be relief to help homeowners stay in their houses.&nbsp; Below is a letter regarding a law that will allow primary residences a 'Cram Down' in Bankruptcy.&nbsp; What this means is that a bankruptcy court can require a lender to accept less than the loan amount as part of a bankruptcy.&nbsp;&nbsp; </div> <div>&nbsp;</div> <p style="line-height: normal;"><span style="color: black;">On &nbsp;January 30^th 2009, the following letter from John Conyers was </span><cite>Printed in The Wall Street Journal, at page A11</cite></p> <p style="line-height: normal;"><br /> <cite></cite></p> <p style="line-height: normal;"><strong><span>Mr. Conyers, a Member of the United States House of Representatives is a Democrat from Michigan. He is the chairman of the House Judiciary Committee.</span></strong></p> <h3>By <a href="http://online.wsj.com/search/search_center.html?KEYWORDS=JOHN+CONYERS+JR.&amp;ARTICLESEARCHQUERY_PARSER=bylineAND"><span style="color: windowtext;">JOHN CONYERS JR.&nbsp;&nbsp; </span><img src="http://davidottolaw.com/images/john_conyers.jpg" alt="" width="111" align="right" /></a></h3> <p style="line-height: normal;"><span>"This week the House Judiciary Committee approved legislation aimed at helping Americans keep their homes through bankruptcy.</span></p> <p style="line-height: normal;"><span>I introduced the <u>Helping Families Save Their Homes In Bankruptcy Act of 2009</u> to give courts the power to modify mortgages to bring them in line with underlying home values. For families in distress, this is a much-needed reform. And considering the realistic alternatives, it is fair to all concerned.</span></p> <p style="line-height: normal;"><span>I have been working on this bill for nearly two years. I believe it represents one of the most tangible and productive steps we can take to limit the fallout from the real-estate depression that has been sweeping the nation. While it is not the entire answer to the economic crisis, it is a common-sense and practical approach to stopping a downward spiral where foreclosures also depress nearby home values and thereby hurt other homeowners. This spiral is not helping anyone -- not homeowners, not lenders, and certainly not communities.</span></p> <p style="line-height: normal;"><span>Some argue that we are acting too quickly, and that we should delay my legislation to give homeowners and lenders more time to modify the terms of existing mortgages on a voluntary basis outside of bankruptcy.</span></p> <p style="line-height: normal;"><span>But the evidence shows that such modifications don't work. For one thing, many of the servicers who control the mortgage loans claim they are not legally permitted to agree to voluntary modifications. And even when they<em> </em>are legally permitted to agree, their financial incentives are stacked in the direction of foreclosure.</span></p> <p style="line-height: normal;"><span>As a result, the much-vaunted federal "Hope for Homeowners" program launched in October has been only a limited success. The program is supposed to facilitate new mortgages for homeowners if lenders agree to reduce the amount of money owed on a home to 90% of its assessed value. The program went into effect with the goal of helping hundreds of thousands of homeowners. To date, it has processed less than 400 applications.</span></p> <p style="line-height: normal;"><span>To those who claim that my bill will end up harming consumers by increasing the cost of credit, I would respectfully suggest that they are not taking account of the track record of the modern-day bankruptcy code.</span></p> <p style="line-height: normal;"><span>For more than three decades, the bankruptcy code has permitted the very kind of court modification we are considering today, for every other form of secured debt, including loans secured by second homes, investment properties, luxury yachts, and jets. For over 20 years, this very kind of modification has been available for home mortgages already -- if the home is a family farm. There is no indication that this has in any way increased the cost of credit for any of these kinds of loans.</span></p> <p style="line-height: normal;"><span>As for my legislation, we have narrowed it to apply only to existing mortgages. So it will have no effect on new mortgages and cannot impact their cost. This is one reason why Citigroup is now among the many business and consumer groups that support this proposal. It's also one reason why the Obama administration supports my bill.</span></p> <p style="line-height: normal;"><span>Finally, to those who argue that this legislation constitutes some form of "moral hazard," which will encourage reckless borrowing in the future, I would simply ask them to come to Detroit, my home town.</span></p> <p style="line-height: normal;">Detroit<span> has had more than 100,000 foreclosures over the past three years. And the pace doesn't seem to be letting up. The city has an average of 126 foreclosures a day. Block after block, "for sale" and foreclosure signs feed off of each other, driving down home values, uprooting families, decimating communities, and causing local tax revenue that pays for police and firefighters to plummet. We don't have the luxury of worrying about hypothetical future moral lessons. We need to stop the bleeding today.</span></p> <p style="line-height: normal;"><span>What is happening in Detroit is also happening across the country. Communities in Arizona, California, Florida, Massachusetts, Nevada, Ohio and elsewhere are all facing big foreclosure problems.</span></p> <div style="line-height: normal;"><span>If we can spend $700 billion to bail out the brokers on Wall Street, the very least we can do is allow working Americans who are willing to repay their debts as best they can, under court supervision, the dignity of staying in their homes. With one in 10 homeowners behind on their mortgages, and 10 million foreclosures expected over the next several years, the time for meaningful action is now."</span></div> <div>&nbsp;</div> David Otto is a Lawyer in Las Vegas, Nevada.&nbsp; He focuses on Real Estate Law, Disability Rights Law, and other areas of Civil Litigation.&nbsp; For more information go to davidottolaw.com, or call 702-379-6540 <div>&nbsp;</div><P><a href="http://mylasvegasrealty.com/blog/2009/02/11/keep-this-house-and-cram-it-down" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2009/02/11/keep-this-house-and-cram-it-down#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2009/02/11/keep-this-house-and-cram-it-downWed, 11 Feb 2009 18:39:00 GMThttp://mylasvegasrealty.com/blog/2008/03/06/short-sales<div><strong><font style="font-size: 24pt" color="#0000ff" size="5"><span style="font-family: Arial"><strong style="font-family: "><font style="font-family: ; color: #0000ff; font-size: 12pt" color="#0000ff" size="5"><span style="color: #000000"><strong><font color="#0000ff" size="5"><span style="font-family: Arial"><strong style="font-family: "><font style="font-family: ; color: #ff0000; font-size: 12pt" color="#0000ff" size="5">***Learn the Benefits of a Short Sale vs. Foreclosure***</font></strong></span></font></strong></span></font></strong></span>&nbsp;</font> </div> <div style="background-color: #ffffff"><strong></strong>&nbsp;</div> <div><strong><span style="color: #333399"><strong style="background-color: #ffffff; color: #0000ff"><span style="color: #ff0000"><strong><strong style="color: #ff0000"><span style="color: #ff0000"><strong><strong style="background-color: #ffffff; color: #ff0000"><strong><strong>CSP- CERTIFIED SHORT-SALE PROFESSIONAL</strong></div> <div>&nbsp;</div> </strong></strong></strong></strong></strong></strong></strong></strong> <div><span style="color: red"><span style="color: #0000ff"><span style="font-size: 12pt"><span style="font-size: 12pt"><span style="font-size: 10pt"><em><strong style="font-size: 12pt; text-decoration: underline">WINDERMERE PRESTIGE PROPERTIES #1 SHORT SALE AGENTS 2009 have moved to Realty One Group!</strong></em></span>&nbsp; <div>&nbsp;</div> </span></span></span></span><strong><strong><strong style="background-color: #ffffff; color: #0000ff"></span></span><br /> </strong></span>Don't just let your home go back to the bank by being foreclosed on!&nbsp;&nbsp;Speak to a CSP Designated Agent! Not all Agents know how to successfully close a Short Sale!&nbsp; Be sure you are speaking to Agents and&nbsp;Professionals that&nbsp;really know&nbsp;how to work a Short Sale!&nbsp; It takes a Highly Dedicated Agent to Negotiate and work the Short Sales.&nbsp; <br /> <br /> If your having a financial hardship you have other options!&nbsp; A Short Sale is a much better route to take than simply walking away from your home. The banks are more willing to work with people now than before! For more information on Short Sales contact John &amp; Jeanette Zimmer 702-523-1852 or e-mail us at <a href="&#109;&#97;&#105;&#108;&#116;&#111;&#58;&#122;&#105;&#109;&#109;&#101;&#114;&#64;&#119;&#105;&#110;&#100;&#101;&#114;&#109;&#101;&#114;&#101;&#46;&#99;&#111;&#109;">zimmer@helloworldcom</a>.&nbsp; Let our Professional Team Help You! We get Short Sales Closed! <br /> <br /> <br /> <br /> </div> </strong> <div>&nbsp;</div> </strong><P><a href="http://mylasvegasrealty.com/blog/2008/03/06/short-sales" target="_blank">Permalink</a> | <a href="http://mylasvegasrealty.com/blog/2008/03/06/short-sales#comments" target="_blank">Comments</a></P>Jeanette Zimmerhttp://mylasvegasrealty.com/blog/2008/03/06/short-salesThu, 06 Mar 2008 16:23:00 GMT