Facing Foreclosure? Stop Foreclosure Las Vegas

Nevada Property Solutions, Inc - Las Vegas, NV - Tel: (702) 475 6540

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Upside Down? In need of a solution?
We are a full service Real Estate Solutions Company that works with homeowners to find the win-win in every situation.

Sometimes Bad Things Can Happen To Good People!

Behind each story of a homeowner trying to avoid foreclosure is a personal story, circumstances beyond an individuals’ control, layoffs, medical bills, divorce are just a few of the reasons you may need to stop foreclosure. We provide foreclosure help to homeowners all over the Las Vegas Valley by buying over leveraged homes. We are able to do this by negotiating with the homeowner's lender to discount the amount owed. This is commonly called a short sale. At Nevada Property Solutions, Inc we provide a professional friendly foreclosure help, and offer many advantages over dealing with a Realtor®.

In today’s Las Vegas real estate market listing your home with a Realtor®, for many, is not the right answer. If you are upside down and unable to sell a Realtor® cannot move forward with a short sale until they find a buyer, many Realtors are unfamiliar with the short sale process and traditional buyers do not want to wait around during the lengthy short sale process, often times buyers drop out and you are back to square one trying to stop foreclosure.

Find out more about the Las Vegas short sale process.

What Are My Options?

Are you behind on your mortgage payments?

Not sure about your options, need foreclosure help? If the reason you're behind on your mortgage is temporary, perhaps you where laid off but now have another job, there are programs available to help, these include a forbearance agreement and loan modification. However, for many these programs are not an option, maybe you are one on the thousands of Las Vegas homeowners who where sold an adjustable rate mortgage, ARMs, which has now changed to a higher rate. If this is the case, selling your home through a short sale maybe your best option to stop foreclosure. Here is a description of the various options available to a homeowner.

1. Reinstatement of Loan (Cure): This option is paying the lender everything that is owed in one lump sum to include missed payments, any late fees associated with these payments, foreclosure fees, legal fees and the principal owed during the delinquency.

2. Repayment Plan: The second way to stop foreclosure is to negotiate a repayment plan. This is a written agreement between the lender and the seller. These plans require higher payments than the regular monthly mortgage amount for a period of time until the loan is brought up-to-date.

3. Loan Modification: A loan modification involves changing one or more terms of a mortgage. Modifications can be considered to reduce the interest rate of the mortgage, change the mortgage product (from an adjustable rate to a fixed rate, for example), extend the term of the mortgage or capitalize delinquent payments (add delinquent payments to the mortgage balance-only available in extreme hardship situations). Modifications are NOT easily granted, in addition, the government program to help homeowners modify their loans has, in some cases, actually increase the monthly payment, often times this will ultimately end up as another Las Vegas foreclosure.

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4. Forbearance Agreement: The lender will allow you a period of time (3-6 months typically) of either low payments or no payments at all. Unless the loan term is extended (which happens rarely), the later payments generally will have to be higher than the original monthly mortgage payments until the loan is up-to-date.

5. Special Forbearance (FHA Loans only): Allows eligible borrowers to postpone monthly mortgage payments for a minimum of four months. While there is no limit on the maximum number of months, at no time may the agreement allow the delinquency to exceed the equivalent of 12 monthly PITI installments. This could help you avoid foreclosure if you have an FHA loan.

6. Deed-in-Lieu: A Deed in Lieu is an option in which a borrower voluntarily deeds collateral property in exchange for a release from all obligations under the mortgage. A DIL may not be accepted from borrowers who can financially make their payments. If a borrower qualifies for a DIL program they may be eligible for cash back from the lender as in the “Cash for Keys” program. This only works if there is equity in the home of course.

7. Cash Sale: The borrowers sells their property, pays off their loan, and, depending on the equity, may net some cash out of the deal. The challenge, of course, is being able to sell it quickly enough, which usually requirers a lot of equity and most often requires a substantial drop in the price. This can be a good foreclosure stop if you have enough equity in the property.

8. Short Sale: A short sale is an excellent way to stop foreclosure. The borrower makes an agreement with a buyer to sell the home for less than is amount owed, subject to approval of the lien holders. This is often the best option if the home is upside down and other option have not worked or are not available. This results in no cash to the homeowner, but a Las Vegas short sale is far better for his or her credit than a foreclosure.

9. Refinance: The borrower may be able to stop foreclosure by refinancing and get a new loan, but generally this is difficult because the borrower has little or no equity and poor credit. The new loan likely will have higher payments than the old loan.

10. Do Nothing: The worst choice of all for the seller, whose credit will be ruined, but he can stay in the house for several months for nothing, save up some cash, and move when the lender or the high bidder from the auction eventually evicts the homeowner.

While we encourage you to do everything possible to save your home and stop foreclosure, if you home is going to be sold at a Las Vegas foreclosure auction it's time to ACT NOW! and seek foreclosure help. Many people wanting to avoid foreclosure in Las Vegas simply do nothing and hope for a miracle. Don't fall into that trap! get the foreclosure information you need.

short sale guarantee

Nevada Property Solutions, Inc specialize in negotiating with your lender to short sale your home. We are here to provide foreclosure help, we want to save you from having a Las Vegas foreclosure on your credit report . Did you know that most mortgage documents underwritten in the last 5 years contain errors, RESPA & TILA violations, we can have our real estate attorney analyze your documents. To Learn More stop foreclosure information and find out how we can help, click below.

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To speak to a Las Vegas short sale specialist call
800 559 6560

Check Out The Latest Foreclosure News from Realtytrac

Additional Useful Resources

Disclosure Statement - Nevada Property Solutions, Inc is a real estate investment company. We buy and sell real estate for a profit, we are NOT Realtors®, we are NOT Attorneys and do not offer any form of Real Estate legal advice. We provide solutions to homeowners by buying over leveraged real estate and we provide a no fee short sale negotiating service when buying pre-foreclosure homes, we are not Foreclosure Consultants. Foreclosure Information on this website is for information purposes only and does not constitute legal advice. Homeowners who need to avoid foreclosure are strongly advised to consult an Attorney before entering into any form of Real Estate contract.