Comments for Las Vegas Loan Modification

Comment on What is the best real estate school in Las Vegas and San Francisco? by Flower

Flower — Mon, 19 Jul 2010 09:38:59 +0000

You can take a basic Real Estate Foundation course but every state has its own exams and there are different laws. I went to Anthony Schools in San Francisco for the Calif. state exam. it was a prep course just for passing the test for R.E. sales. But I had already studied Real Estate in Arizona. I had to read up on California laws before i took the exam in Calif. So I really went through twice, but Anthony was just a test prep class for 6 weeks live on site. I would never go online because R.E. was difficult for me without any business or finance background. Anthony Schools is probably in Vegas too.
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Comment on Is it still possible to get a mortgage with no money down? by WHAT?

WHAT? — Fri, 16 Jul 2010 09:20:59 +0000

It is difficult, but if you find a private seller, who will do AN AGREEMENT OF SALE", then you will have a chance. Possibly someone in financial difficulty or some one with several homes to unload.
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Comment on Is it still possible to get a mortgage with no money down? by Rick B

Rick B — Fri, 16 Jul 2010 08:58:59 +0000

You’re kidding right? You make less than $30K and you want to buy a house?!?!?!?!!?

You also have been with your employer for less than 2 years and you have no money down.

Not only will you be unable to get a loan, but you SHOULD NOT get a loan. You are in absolutely no position to buy a house.

Pay off your debts. Save up 10% to 20% to put down. Save up a cash emergency fund of 3 to 6 month’s expenses. Save up 3% to 5% to cover the closing costs and other costs that might come up. Get at least 2 years of work experience with the same company. THEN start looking at a home.

Not sure you will find anything you can afford on that income in Vegas though!
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Comment on Is it still possible to get a mortgage with no money down? by Steve D

Steve D — Fri, 16 Jul 2010 08:23:59 +0000

Nope…there are no more "no money down" loans - best you can do is an FHA loan which will require 3.5% down, plus figure another 4 to 5% for closing costs. At $500 a week (I assume gross) you make about $25,000 a year which means you can afford a mortgage up to $75,000 at most. However, you will need to be in your job for another 18 months, since in addition to the down payment and good credit, you will also have to show 2 years of stable work history at the same employer.

Figure that you will need 7.5% to 10% cash, so you will need between $5,000 and $7,500 in the bank when you start looking.
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Comment on Employment in Las Vegas? by god1stnov5

god1stnov5 — Sat, 10 Jul 2010 07:33:59 +0000

its no jobs no where out here i been unemployed for a year even the temp agencies dont have any work the casinoes are so hard to get in due to all the people they laid off… that the people that were layed off is puttinng their apps in and they want experience,, also they always had summer jobs my 17 yr old bro cant get a job and it seems like they will hire him and pahy him less but it is so bad out here that people are breaking in homes robbing stores .,..the store my husband work at ///im the wife due to the picture… he got robbed then sprint, family dollar was robbed and gthe stores down the streets from them have been getting robbed at gun point every week
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Comment on Employment in Las Vegas? by HD

HD — Sat, 10 Jul 2010 07:26:59 +0000

you’re in for a rude awaking moving here. jobs are very scarce and a $20 hr job is almost impossible. those mortgage loan companies are all commission. elec bills are very expensive so be prepared.
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Comment on Employment in Las Vegas? by Michael M

Michael M — Sat, 10 Jul 2010 07:19:59 +0000

scam yes.
commission they will work you 3 days do not meet goal, release you.
$20 is near impossible here. right now.
do you have a license. plumber, elevator.
you can make it then
if not, sorry.
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Comment on Is there a stock or mutual fund that deals exclusively in the depressed Las Vegas real estate market? by Jerry

Jerry — Thu, 01 Jul 2010 21:40:59 +0000

I think the closest match you will find is a home builder with significant exposure to Las Vegas. Beazer Homes (ticker: BZH) is one that comes to mind. I like your contrarian thinking. However, you might be a bit early on this idea as Las Vegas is remarkably overbuilt. Since Las Vegas is so dependent on gambling, you might look at some casino stocks as a proxy for the local economy. There is probably a decent correlation with real estate prices.
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Comment on Is there a stock or mutual fund that deals exclusively in the depressed Las Vegas real estate market? by Caveat Emptor

Caveat Emptor — Thu, 01 Jul 2010 21:07:59 +0000

Exclusively? I doubt it. You might some some REITs that have concentrated holdings there - but REITs deal in commercial properties and/or apartments - not single family residential.
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Comment on How easy is it to switch a Real Estate license from one state to another? by Mally

Mally — Fri, 25 Jun 2010 20:06:59 +0000

Go for a good REO coach. He would help you in a better way.
Log onto http://www.teresagordon.net/pages/REO-Coach.html
You’ll definitely find a sollution to your problem there.
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