44 Foreclosures a Day in Clark County
The foreclosure rate in Nevada is one of the highest in the nation and many homeowners are left wondering if there is a way to avoid losing their homes.
Sub-prime lending has been blamed as one of the big contributors. What do you think?
Categories: Economy
February 19th, 2008 at 8:47 pm
Hello and I must say I blame the buyer mostly for first buying a home “over” their means- and lack of knowledge about these new fangled loans! What ever happened to you can afford a morgage based on a weeks salary? The final three weeks are for payments of electric, car/insurance etc…I can’t imagine how someone would consider buying a home with no money for downpayment- let alone a variable rate morgage in this day and age! That is NOT the american dream it is a nightmare. The few families that had all these things in place, the downpayment the good credit, the job,ect.. and something went bad- well them I am sorry for, but too many people live with rose colored glasses on and are now paying/loosing it all.
February 20th, 2008 at 7:41 pm
Plenty of blame to go around, but it all boils down to fraud and greed.
March 1st, 2008 at 8:38 pm
Right on the money Linda comment #2,..Now National news is reporting people putting morgage payments on Visa/Mastercards and 401ks? Wonder where is that gonna end up with Government agencies when the dust settles when it bounces off retirements and other dominos getting knocked over in a couple years down the road,because of that,..Hey how about the Fed Reserve cutting interest rates again?…not good….
May 14th, 2008 at 12:42 pm
I think Las Vegas will be getting back on it’s
feet in real estate.. it is still the best place
to live to me… it is more exciting, cheaper to eat,
fun things to do 24/7, casino slots, shopping, just a
great feeling with no stress…
September 21st, 2008 at 12:14 pm
( IT IS AN AMERICAN DREAM TO OWN YOUR OWN HOME.) THE BLAME STARTS WITH THE BROKER AND MORTGAGE COMPANIES THAT MADE IT POSSIABLE OR MADE THE BUYERS CREDIT LOOK BETTER THAN IT WAS. THEN SOLD THEM ON, AN ARM LOAN OR INTEREST ONLY, KNOWING THAT THEY WOULD NOT BE ABLE TO KEEP THERE HOME. BECUASE IN REALITY IT IS MORE THAN THEY CAN AFFORD. BUT GREED TOOK OVER. THEN YOU HAVE THE DEVELOPERS WHO OVER PRICED THERE HOMES TO MAKE MORE MONEY. “WOOPS” GREED TOOK A FRONT SEAT AGAIN!!!!!!!! THEN WHEN ALL THE ARM LOANS AND INTERESTED ONLY MUTURE. THE REAL ESTATE PRICES COME DOWN. GUESS WHAT? YOUR LOAN IS MORE THAN WHAT YOUR HOME IS WORTH. THAT’S THE AMERCICAN NIGHTMARE…… THANKS TO THE BANKS. AS FAR AS ROSE COLORED GLASSES ITS THE GOVERMENT WEARING BLINDERS. “WOOPS” HERE IT IS AGAIN THAT WORD, GREED!!!!!!! SO HE OR SHE SHOULD NOT BE BLAMED FOR THIER DREAMS.
BUT HERE WE ARE, THOSE WHO ARE LOSING OR HAVE LOST THIER HOMES, THE AMERICAN PEPOLE ARE GOING TO BAIL OUT THE BIG BANKS AND GOVERMENT! SO IT’S A LOSE, LOSE SITUATION FOR US THE PEPOLE.
SO NOT TO BE MISTAKEN, I AM NOT ONE OF THOSE POOR FAMILIES THAT ARE UP SIDE DOWN. ALL THOUGH I HAVE FRIENDS AND FAMILY THAT ARE THERE AND SOME THAT ARE FAST APPROCHING IT.
“THE CURE OR FIX”
WE THE PEOPLE, SHOULD HAVE THE GOVERMENT, (THOSE WHO WE THOUGHT WORKED FOR THE PEOPLE.) ARREST AND SEIZE THE MONEY AND ASSETS THAT WERE EXSTORED FROM THE PEOPLE. THE BILLIONS THAT WE KEEP HEARING ABOUT AND USE THIS MONEY TO FIX IT. FROM THE BROKER WHO WROTE THE LOAN KNOWING IT WAS WRONG BUT A QUICK BUCK TO BE MADE. “GREED” TO THE MORTGAGE COMPANY OFFICER, THE BANK OFFICER, THE DEVELOPER WHO OVER PRICED THIER HOMES, THE REAL ESTATE COMPANIES, THE GOVERMENT OFFICAL. ALL WHO HAVE THESE BILLIONS LETS TAKE ALL THAT MONEY BACK FIX WHAT WE CAN AND THEN TALK ABOUT A BAIL OUT OR BETTER YET LETS BAIL OUT THE PEOPLE.
DOUG H.