Archive for the ‘las vegas mortgage’ Category

The home buyer tax credit has been extended one year for military members who are on extended duty and have a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.

For anyone deployed at Nellis or Creech AFB in Las Vegas Nevada give us a call and we can work with your USAA Lender or recommend others who can assist with your VA Loan.

There are many new homes up in the North Las Vegas area just minutes from the base.

Thanks

Olivia

You can view more info about this at the news 3 website.

News on Nevada Foreclosure Mediation Program via Channel 4

$877 PAYMENT FOR SOME NEVADANS

About 3,500 Countrywide Financial borrowers who lost Nevada homes in foreclosure can expect to receive checks for about $877 each early next year, the attorney general’s office said Friday.  Click on Article Link Below

Read full article here by
JOHN G. EDWARDS LAS VEGAS REVIEW-JOURNAL

This week Federal prosecutors said they would not pursue criminal charges against Beazer Homes USA Inc. as long as the company remains in compliance with an agreement to pay up to $50 million in restitution to homebuyers who were allegedly taken advantage of by the builder’s in-house mortgage company.

Who will be next?   Kimball Hills, not a chance their mortgage company changed names twice then closed it’s doors before any buyers came forward based on some of the appraisals we have seen.

Stay tuned for the next mortgage company to get caught pushing loans through, losing documentation and selling the loans on the secondary market faster than you can image.

This is why many real estate attorneys are having their clients demand their loan servicer to produce the original note signed.  If you loan has been sold 3,4 or 5 times what is the possiblity of them finding it?      You got it.

Ask me more.

We can tell you stories about starting, working through the process of completing a short sale in Las Vegas over the past year.  The Obama Administration has announced a “Uniform Procedures” which makes complete sense since every lender has a different procedure making the process more difficult.

If the borrower dosent qualify to have their loans modified it will give them options such as short sale or deed in lieu of foreclosure.   You can click on this link for a full briefing on the program

There are roughly over 25% of the local MLS Listings in the Greater Las Vegas MLS listed as Short Sales with the remainder being REO or Bank Owned Properties so the demand is there.   Most of the homes purchased since 2004 are underwater by 30% or more.  Different parts of Las Vegas may be hit harder to the tune of 60% or more underwater on the mortgages.

If you are selling your home and you owe more than it is worth, contact us today and we can discuss the short sale process.  We have a implemented a process to streamline the transfer or information from the borrower to Triple8 Associates then on to the lender all via a secure online process to do our best to close your transation in the shortest timeframe.

We can be reached at 702-372-2671 or visit our Website www.Triple8 Associates.com.

Great News for First-Time Home Buyers!

HUD recently announced that qualified First-Time Home Buyers who want to take advantage of the available tax credit of up to $8,000 now have another option available to them to help them become homeowners.

It’s clear that first-time home buyers have been having a major impact on the housing market this year. The National Association of Realtors announced that first-time buyers, who typically account for less than 40% of home sales each year, have been especially busy…in March, homes that were purchased by first-timers accounted for 53% of all sales, and this percentage is expected to hold true for all of 2009.

With home affordability higher than ever, available tax credits and some of the lowest interest rates ever recorded for home loans, who can blame them? Particularly as a first-time buyer, there may never be a better time to buy a home than right now.

However, the availability of a tax credit, while a great incentive, does not put the money in the hands of a buyer right away. HUD’s announcement now allows for prospective and qualified home buyers to borrow the money from approved agencies and lenders.

While details of participating lenders and HUD-approved agencies are not yet available, this should turn up the heat on prospective buyers to get busy searching for their next home. As further details become available, I will get them to you.

In the meantime, alert your database that one more barrier to homeownership is being removed and the time to start shopping is now!

Sincerely,

Matthew Mauzy
Signature One Mortgage
(702) 453-1111
mmauzy@sigonemtg.com