Foreclosure Relief

Yesterday the Nevada Legislature initiated AB 149 which provides an opportunity to Homeowners who have been served with a foreclosure notice to have the right to mediation with their lender. This can be a win, win for both Lender and homeowner. The goal will be to see if an agreement can be reached so that the homeowner can stay in their house which also eliminates the lender having one more loss on their records. Mediation will cost about $200.00 for each side.



As a Realtor I hope this will help many of the people who are having difficulty while stabilizing our city's housing. It is sad to see so many vacant houses with dying landscaping. Surely each home has a story. Time will tell whether this will be a good program or whether there will be so many loopholes very few will qualify.



I know everyone hopes that the many consequences from foreclosure and shorts sales will be reduced. One of which is the reduction of payers of their home owner association dues. While putting the burden on fewer people associations have definitely had problems trying to operate on much less.

Nevada tidbits:

There are photos from around 1917 that show Fremont Street a center of activity. Small structures lined the dirt roads. Only thirty years later what is known as glitter gulch began.

In 1953 when I was about six years old we moved to Las Vegas. I remember glitter gulch. In high school we use to cruise Fremont Street honking at all the cute boys coming our way. It seemed so exciting even though we never met the faces staring at us through our car windows. Fremont Street had a character and place for everyone. Even though it is known as progress I was sad to see it changed with the now wonderfully lit canopy known as the Fremont Street Experience. I am fortunate to be able to say I was witness to the real Fremont Street Experience. For those of us from those days fond memories will always be ours.

For more tidbits check out Las Vegas Then and Now by Su Kim Chung.