Nevada considers ways to deal with foreclosures

(via The Associated Press) · August 3, 2008 · 5:31 PM

Nevada might follow California's lead by enacting legislation intended to fight the foreclosure crisis, some key lawmakers said as a state panel prepares to take up the issue, the Associated Press reported today.

The Legislative Commission's Subcommittee to Study Mortgage Lending and Housing Issues on Monday will consider recommendations for the 2009 session, the AP said.

Nevada had the highest foreclosure rate in the nation in the second quarter, according to a report showing one in every 43 Nevada households receiving a foreclosure filing over the period.

Discussion: 3 comments so far...

By VegasRepos

8/4/08 at 11:13 a.m.

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Any moves to help curtail the foreclosure crisis along with the federal legislation already passed will definately help bottom out the housing market.

VegasRepos.com
By azsk8fan

8/5/08 at 8:49 a.m.

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Well the banks can either choose to have a bunch of run-down, dilapidated homes on their hands or maybe they could make the interest rate lower so the payment would be affordable and people could keep their home instead of losing it - it seems like a win-win - banks still make (but not as much) money and people still have a roof over their heads. OR banks can take the homes back and ( deservedly so) lose their rear-ends. The choice seems rather obvious but the greedy corporate conglomerates are still at a 'all or nothing' mindset which serves absolutely no one.
By perry161492

4/12/09 at 12:01 p.m.

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people can only hope they passed that bankruptcy bill in the senate i will used that billed. if it passes u will see that lender sending out letter trying to help you. i will tell them f u i will bankrupt