The banks in Nevada as well as banks all over the world made a big mistake in approving mortgages without stringent verification and control regarding the financial condition of the client.
Every people got their home loan approved and have the opportunity to achieve their dream house; however, they didn’t thoroughly think about the ways to pay for their monthly rates. People who suffered financial difficulties resort to loan defaults because they cannot keep up with the payments anymore. With this, the bank started the foreclosure processes so that they can have the ownership of the mortgaged properties in order to recover the money they invested. The foreclosed properties must be converted to money and hence, the lender puts the foreclosed homes for auction.
However, this process is unsuccessful nowadays due to the overwhelming number of foreclosed properties as compared to the number of interested and potential buyers in the market. In short, the bank cannot harness the benefits of the foreclosed belongings, and they resort to different approaches for the situation. To aid the struggling real estate market, the authorities enforced the loan modification program. This is a process of re-negotiating the initial terms of the contract so that both parties can have a better deal and benefit from the loan instead of just wasting it away.
The bank accomplishes its objective of re-acquiring the borrowed money if he/she is willing to have a collaborative effort with the debtor, instead of seizing the properties. In helping the affected people to obtain better deals, there are many law offices specializing in the loan modification process that can help you achieve your objectives. You can choose the fixed rates but it has its own cons; this rate is calculated based on your financial situation in good times.
However, recent events resulted to the loss of jobs for many people or are underpaid. The rates should be recalculated again and should consider the new income of the individual. Extension of the mortgage length is possible so that the rates can be reduced to the ones that you can pay.
Apply to this new modification law so you can avoid foreclosure of your home. By doing this, you bring benefits to yourself as well as to the bank, because there will be no more defaulting from their side. The Nevada Loan Modification law is such a great solution to avoid the foreclosure procedures. Based on the statistics, the number of foreclosed homes decreased in Nevada since the implementation of this new program.
Nevada Loan Source, Inc.
4821 Purple Sage Court
Carson City, NV
US Express Mortgage Corp.,NV,VA100%&Conv95%Fixed
375 E. Warm Springs Road., Ste. 100
Las Vegas, NV
Bank of America – Southern Highlands
4840 West Cactus Ave
Las Vegas, NV
US Bank – West Charleston NV Office
2820 W Charleston Blvd
Las Vegas, NV
1301 N. McCarran, Suite 102
Aryans Inc. D.B.A. The Bank Office
10120 S. Eastern Ave. #200
Direct Access Lending – Eli Mizrachi
8751 W. Charleston Blvd #210
Las Vegas, NV
JEMCO MOBILE NOTARY SIGNING AGENCY
CERTIFIED MOBILE NOTARY SIGNING AGENT
LAS VEGAS, NV
US Bank – Marcello Marketplace Office
2420 N Rancho Dr
North Las Vegas, NV
Clark County Legal Services
(a/k/a Clark County Pro Bono Project)
Community Legal Services, Senior Law Project
Legal Aid Center of Southern Nevada
Nevada Fair Housing Center
Nevada Legal Services Inc.
Nevada Supreme Court and Nevada State Bar
Washoe County Senior Law Project
Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.
Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement)
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