If the number of foreclosures and bankruptcy filings didn’t tell you Nevada’s consumers stand on shaky financial ground, perhaps a new study will convince you of the fiscal peril visiting a legion of locals.
Vestin Group’s two real estate investment trusts, which make short-term loans secured by real estate, have disclosed that borrowers are late in making interest payments on more than two-thirds of their total loans, surprising industry professionals already reeling from Southern Nevada’s credit crunch.
