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  • nevadaflagWhat’s not to love about Nevada. The bright lights of Las  Vegas, the Hoover Dam and the low taxes make it a dream… don’t they?

    The truth is that Nevada is beautiful country, but that we’ve got a few problems lately with our economy and Nevada is no exception to that rule. According to the facts and figures, Nevada ranks first among the states with the most foreclosures in the United States, and that means, that the dream can become a nightmare if you don’t take steps to fix it.

    With our unemployment rates skyrocketing and home foreclosures at an all time high, what can we do to safeguard the biggest asset we’re likely to accomplish in our lives?

    Are there programs out there to help those of us who are fighting to get back on an even footing financially and to keep our homes? There are. Each state has it’s own answer to ways that you can work to stop foreclosure, but even with some of the incentives, the facts are that it’s going to take some work on your part.

    Nevada’s programs are among the best in the nation, but qualifying is necessary to get started and in fact many people don’t. Others aren’t even aware of the existence of the programs that are out there for their use.

    The incentives that President Obama put into place for real estate rescues offer you several viable options.

    Nevada Government offers some of those programs to the residents of Nevada to assist them in keeping their homes and protecting their investments.

    How do they work?

    Those who are in default, or are at risk of that default may qualify to have their loans modified, or refinanced. Those who have a very high level of debt in other areas such as credit cards, that exceed more than 50 percent of their income are still eligible, but may be required to take some credit and debt counseling in a HUD program so that they can get their loan modifications.

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    People who have a higher combined debt in comparison to their income may still be able to get their loans modified. If they do qualify, then the mortgage company will lower your mortgage payment to about thirty percent of your yearly income.

    The reality is that real estate isn’t moving. The bank doesn’t want your home and you do. Why not fight to keep it using all the tools at your disposal. There are incentives and mortgage rescue companies in place, along with government assistance programs to help you in your efforts to sort it all out.

    A word of caution here. No mortgage rescue company will ever ask you to sell them your home and rent it back to you, or sign the home over to them. These aren’t mortgage rescues, and they aren’t the right answer for you.

    Loan modification and government loan incentives in Nevada may well be able to help you to save your home. Getting the right information in a timely way will help you to protect your best asset.

    As soon as you begin to miss payments or know that you can’t make them, the time to phone the mortgage assistance programs is then. Waiting until your home is in pre-foreclosure or foreclosure isn’t the best way to try to save it.

    http://www.nv.gov/, The Nevada State government web site has some information and official assistance to help you prevent foreclosure on your home.

    If you’re not comfortable speaking with your lender about the loan modification issues or scheduling a meeting with them, Nevada loan counselors will assist you with the process too. There are loan counselors that are waiting for your call to offer you free assistance.


    These programs are designed to help you to get back on your feet. They will offer you a loan modification, perhaps elongate the number of months or years that you need to pay, eliminate the late payments, and in most cases lower your payments to a monthly amount that you can afford.

    Getting the help you need to save your home makes sense. Your home is an investment in yours and your family’s future. Keeping your equity and protecting that investment is possible in many cases, and in every case, doing something, is always better than doing nothing.

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