Judge halts 8,900 Bank of America foreclosures in Las Vegas and Nevada. Short Sales Soar.

Bank of America was ordered to halt over 8,900 foreclosures in Las Vegas and other parts on Nevada. Short sales are an viable option to avoid foreclosure on your home.

A ruling in a Jan. 11 lawsuit filed by Pahrump homeowner Suzanne A. North, Nye County District Court Judge Robert Lane on Jan. 20 issued a temporary restraining order and preliminary injunction against ReconTrust, ordering it not to proceed with non-judicial foreclosures in Nevada on behalf of any lender at least until a Feb. 28 hearing. This is a welcome relief to the thousands of people trying to save their homes in a horribly hit real estate market in Las Vegas Nevada. As an agent working on many short sales in our city, I find it extremely frustrating dealing with banks for are unwilling to help home owners stay in their homes. If banks were willing to help home owners with legitimate loan modifications, or approvals on short sales in Henderson and Las Vegas, our foreclosure crisis in our city would be much less severe.

The Las Vegas Sun has a few articles about the Bank of America foreclosure moratorium:

http://www.lasvegassun.com/news/2011/jan/28/bank-america-wants-order-halting-8900-nevada-forec/

http://www.lasvegassun.com/news/2011/jan/26/bank-america-seeks-overturn-freeze-foreclosures/

Las Vegas Short Sales

Short Sales have surpassed as the largest segment of our housing market. With nearly 48% of all of the homes on the market in short sale status, what does this mean for buyers and sellers? Short sales actually can help our real estate crisis in this city. Short sales save tens of thousands of dollars to the banks, the sellers, and the hard hit neighborhoods that benefit from keeping homes from becoming vacant. If you'd like to learn your options to avoid foreclosure, you can visit this Las Vegas Short Sale Agent Link.

Las Vegas Sun has also written many articles about short sales:

http://www.lasvegassun.com/news/2010/jan/29/short-sales-soar-while-foreclosure-sales-slacken/

Jim Stout is our go to Lawyer for all our short sale clients. He is a wealth of knowledge and is very affordable:

http://foreclosurenv.wordpress.com/2011/01/26/when-not-to-strategically-default/

If you'd like to discuss your options, please contact Felipe Crook directly for a FREE, CONFIDENTIAL consultation about your options at 1-866-589-1646.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas, NV 89117

1-866-589-1646

http://www.lasvegasluxurypropertieslink.com/00B6D1