The last-hour vote in Congress to avoid the “fiscal cliff” included a provision that extends the Mortgage Forgiveness Debt Relief Act through 2013, which is important to sustaining the nascent housing recovery in Las Vegas, local real estate professionals said Thursday.
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The first phase of the Mortgage Assistance Program is being rolled out today and will provide $38.5 million to more than 12,000 households in Clark County, paying up to $500 a month in mortgage assistance for six months.
Chief U.S. District Judge Roger Hunt overturned a state court order that had stopped Bank of America Corp. unit ReconTrust Co. from foreclosing on property in Nevada. Nye County District Judge Robert Lane had issued the order Jan. 20 that suspended ReconTrust foreclosures on an estimated 7,500 pending foreclosures around Nevada.
A drop in Las Vegas apartment rents may be sobering news for landlords and owners, but it comes at the right time for budget-conscious renters in the worst economic times since the Great Depression.
CARSON CITY — Like other Las Vegans, Assemblyman Marcus Conklin has been shocked at the number of deteriorating foreclosed homes in his neighborhood, replete with weed-covered lawns and strewn about trash.
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