Selling Reno And Sparks Real Estate Blog

Nevada Foreclosures ~ Questions and Answers For Homeowners

Nevada Foreclosures ~ If you have questions, the Nevada Department of Business & Industry has a website to help answer your questions about the foreclosure process.

The Governor's Office, in conjunction with the Nevada Department of Business & Industry, is actively working to meet the challenges presented by the current sub-prime mortgage lending situation. They can answer most questions you have regarding a Nevada foreclosure.

~ Are you facing a possibly foreclosure in Northern Nevada? Do you have questions about your mortgage and are starting to fall behind on your monthly payments? Is your interest rate about to go up? Is a short sale right for you? Visit Nevada Department of Business and Industry today to find answers to your Nevada foreclosure questions.

If you are someone who would rather speak with a live body rather than researching foreclosure information on the computer, the Consumer Credit Counseling Service can help. They will first rrecommend  you   contact your lender immediately and be completely honest about your current financial situation. After you contact your lender,you may then contact a consumer credit counselor to discuss your options.

 A credit counselor can help answer your questions about credit, money management, and housing affordability. Here in Nevada you can contact the Consumer Credit Counseling Services  (CCCS) for free and confidential financial counseling and advice.

 To contact CCCS directly, call 1-800-451-4505 or visit www.cccsnevada.org. If you are uncomfortable about reaching out to the CCCS, I can help you schedule your appointment, answer housing questions and go with you to your appointment.

For all of your questions regarding your Nevada home, visit the Nevada Department of Business & Industry or contact a Consumer Credit Counselor to help you make the right choice regarding your home and your future.

__________________________________________________________________________________________________

REALTOR®

Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)

Ferrari-Lund Real Estate

775.846.5424

 

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4 comments • Terrie Leighton REALTOR® 775-846-5424 Northern Nevada Real Estate • November 10 2009 04:30PM

Northern Nevada Foreclosure Properties, Are They a Good Buy? ~ YES!!!

Not a day goes by that I am not asked about foreclosed properties. Friends, family, neighbors are just a few of the many  who want to know "Is a bank foreclosure a good buy?"

To find the answer it helps to know what a foreclosed property is. A bank foreclosure occurs when a borrower is unable to repay their outstanding debt to the bank.

The property is put up as collateral for securing the loan, and a lien is put upon the property giving the bank legal right to seize that property should there be a default in payment.

Once the homeowner is delinquent, the bank can take back the home and foreclose on the homeowner. The homeowner must leave the premises and the home is now in the possession of the bank.

The banks loose money every month they hold onto these homes. Usually a  real estate company is hired to resale the home at a lower than market value price to get the home sold quickly.

The foreclosed home is sold in "as is" condition. Many people fear buying a foreclosed home will come with a lot of problems. What most folks do not realize is that once the bank forecloses on a home, an inspection is ordered for the property, the property is cleaned and cleared  of debris, trash and any items that may be left behind are removed. Most properties are in fairly good shape and ready to buy.

If you are a first time home buyer or an investor, there are many loan programs available for you when you buy a foreclosed property. A qualified mortgage professional or Realtor how knows how to close them can help you with your decision to buy a foreclosed home.

Northern Nevada is now seeing multiple offers on foreclosure properties. With today's record low interest rates, first time home buyers tax credits, now has never been a better time to buy a Northern Nevada foreclosed home.

If you would like to learn more about foreclosed properties in the Northern Nevada area, or any homes that are for listed for sale in this area, please consider calling me to help you with this process.  I can help you find foreclosure's in this area and help you with the purchase of these properties.

Email me or call me if you are interested in finding out more about Northern Nevada's foreclosrue properties. My email address is TerrieLeighton@hotmail.com and my cell phone number is 775-846-5424. Visit www.servingrenoandsparks.com for a list homes that are currently active in the Northern Nevada regional multiple listing service.

About the author: Terrie Leighton is a real estate agent with Ferrari-Lund Real Estate. Please see Norhtern Nevada homes to learn more about Terrie Leighton.

 

__________________________________________________________________________________________________

REALTOR®

Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)

Ferrari-Lund Real Estate

775.846.5424

 

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19 comments • Terrie Leighton REALTOR® 775-846-5424 Northern Nevada Real Estate • June 15 2009 05:45PM