Las Vegas Real Estate agents and consumer advocates Kendall Trotter and Steve Hawks discuss the repercussions that The current Foreclosure Prevention Act “Builder Bailout” legislation could have on existing property values.
Duration : 0:9:50
Las Vegas Real Estate Update co-host Steve Hawks of RE/MAX Platinum is featured on national television discussing homeowners who “Buy and Bail” on their mortgage. Homeowners who are currently upside down on their mortgage, but still have good credit buy another home for thousands less than their current home, and then let the bank foreclose on their previous property. Could this be an epidemic across the country? Watch Steve and find out. Excellent information here. Great job Steve!
Duration : 0:4:45
Las Vegas Real Estate Update co-host Steve Hawks of RE/MAX Platinum is featured on CNBC national television discussing homeowners who “Buy and Bail” on their mortgage. Homeowners who are currently upside down on their mortgage, but still have good credit buy another home for thousands less than their current home, and then let the bank foreclose on their previous property. Could this be an epidemic across the country? Watch Steve and find out. Excellent information here. Great job Steve!
Duration : 0:4:45
Home owners across the country are starting to realize the value of their home is not going to recover in time to refinance out of their adjustable rate mortgage. Homeowners were told by the lender they would be able to refinance their home when their has adjusted. What many lenders failed to tell the homeowner is they would only be able to refinance if the home value goes up. Now home owners who will not be able to make the new payment are looking for alternatives to remain homeowners. Some are choosing to “Buy and Bail” as the media has called it.The home owners who were given a bad loan are now giving their house back to the bank, but only after they get a good loan on a similar house for half the price. Las Vegas leading consumer advocates and Realtors Kendall Trotter and Steve Hawks discuss this recent homeowner phenomena and possible repercussions.
Duration : 0:10:21
Home owners across the country are starting to realize that in many cases, the value of their home is not going to recover in time to refinance out of their adjustable rate mortgage. Homeowners were told by the lender they would be able to refinance their home when their has adjusted. What many lenders failed to tell the homeowner is they would only be able to refinance if the home value goes up. Now home owners who will not be able to make the new payment are looking for alternatives to remain homeowners. Some are choosing to “Buy and Bail” as the media has called it.The home owners who were given a bad loan are now giving their house back to the bank, but only after they get a good loan on a similar house for half the price. Las Vegas leading consumer advocates and Realtors Kendall Trotter and Steve Hawks discuss this recent homeowner phenomena and possible repercussions.
Duration : 0:10:21
