County, cities hammer out plans for foreclosure funds
Written by Administrator
Tuesday, 16 June 2009 20:36
Clark County and the three cities in the valley are finalizing their plan to grab as much as possible of the $2 billion in federal stimulus package funds to address the foreclosure problem in Southern Nevada.
Worst in nation: Las Vegas commercial properties in distress
Written by Administrator
Friday, 19 June 2009 06:00
The number of commercial properties facing foreclosure is growing rapidly, and observers said a massive bank takeover of office and retail buildings is likely in the coming months. This year, lenders have filed default notices against 323 valley properties.
Real estate developments in Henderson and northern Las Vegas are among the latest to be hit with loan default notices -- and one has filed for bankruptcy. Henderson condominium developer Aspen Peak LLC filed for Chapter 11 bankruptcy.
The number of commercial properties facing foreclosure in the Las Vegas Valley is growing rapidly, leading to expectations of a massive bank takeover of office and retail buildings in coming months.
Obama tells Sun: Nevada’s housing pain is on my mind
Written by Administrator
Thursday, 25 June 2009 05:00
President Barack Obama said Wednesday he is acutely aware of Nevada’s foreclosure crisis and is evaluating whether more can be done to help homeowners, including by redirecting unused bank bailout funds for homeowner relief.
Obama warned that using a portion of the $70 billion returned from the banks may require help from Congress.
Although foreclosures fell in the nation in May, Las Vegas and Nevada weren't so lucky. Foreclosures show no sign of abating with 3,051 homes repossessed in May after dipping to 2,478 repossessions in April, a 23 percent increase.
