[JohnG72]

Originally Posted by WestieJeff

Is there really a problem with people who are paying their mortgage getting foreclosed on? I know there are isolated cases, there always have been.

I don't think people who aren't paying their mortgage should be able to stay in their home because of a paperwork technicality.

You have got to be joking with the "isolated cases" thing.

The paperwork issue is sorta unique to Nevada. The banks simply letting home sit without taking any action...no NOD, no "oops, looks like you missed a payment", no foreclosure....that's a nationwide problem and is basically unmeasurable because the banks refuse to recognize or acknowledge it.

This is why there's been multiple news stories of late where homeowners are finding out 2-3 years after they vacated properties that they are liable for taxes and city fees assessed on these homes where they thought they had walked away from.

Btw, that is the true source of the inventory currently plaguing the larger western US cities....banks refusing to recognize properties where the mortgages are no longer paid.

[Datafeed]

Originally Posted by JohnG72

You have got to be joking with the "isolated cases" thing.

The paperwork issue is sorta unique to Nevada. The banks simply letting home sit without taking any action...no NOD, no "oops, looks like you missed a payment", no foreclosure....that's a nationwide problem and is basically unmeasurable because the banks refuse to recognize or acknowledge it.

This is why there's been multiple news stories of late where homeowners are finding out 2-3 years after they vacated properties that they are liable for taxes and city fees assessed on these homes where they thought they had walked away from.

Btw, that is the true source of the inventory currently plaguing the larger western US cities....banks refusing to recognize properties where the mortgages are no longer paid.

hmm, I am very confused about this in LV. I had a SS accepted last summer on a place in Lake Las Vegas and the owners have not paid the mortgage in over 15 months yet my short sale is nowhere near closing.

I just dont get it. Frankly, i think nobody does.

[JohnG72]

My friend lives in NLV and the home across the street from him was listed at $86K for nearly two years with no sale. Now it shows pending. I'm really interested to see where it closes at because after being listed at $86K for two years it is now selling at a time when it should close at ~$105K, provided the inside isnt trashed(it looks great from the outside).

FWIW, they said they never saw a for sale sign on it, and never ever saw anyone viewing it. AFAIK, there hasn't been a mortgage paid on that house in 4+ years. But part of that is heresay(ie not directly from the former occupants).

[leapfrogg]

Hi, can anyone give me a name and number of a good real estate agent ?
marilyn@suddenlink.net