This is a question asked daily here in Las Vegas by so many underwater homeowners.  Here are some topics covered in an article at MSN real estate

1.  Stay & Pay  

 (may be an option if you can afford your payments, have a good job, want to stay in your Las Vegas home for the long run and you are willing to stay knowing your home may not even break even for many years to come)

2.  Refinance

(may be an option for some, but for many here in Las Vegas even if you can refinance, you are still refinancing the whole debt so it may bring your payment down to a reasonable payment for you know, but you still typically owe the same as your original loan amount)

3. Loan Modification

(another possible solution for some this is where the lender of your mortgage gives you a new payment based on modifiying the terms of your old loan.  Again, you typically may get a lower payment but are still left owing the original loan amount & if you do actually get a Las Vegas loan modification, it may only be temporary for a few years and then it adjust back to the old terms of your previous loan)

4.  Short Sale

(another option for those who can’t qualify for any of the other options listed and they want to move, lost their job, divorce, etc and who want to avoid foreclosure and bankruptcy) (see our Las Vegas short sale info page)

5. Foreclosure

(if you walk away from the home and don’t make your payments, the bank will typically foreclose.  Most financial advisors will tell you it is as bad as bankruptcy for your credit)

6. Bankruptcy

(according to their article: Filing for bankruptcy won’t erase mortgage debt. “What you’re doing in a bankruptcy is you’re trying to give yourself a reprieve,” Detweiler says. Eliminating other debts could free up money to cover your mortgage, and a Chapter 13 bankruptcy could allow you to catch up on payments for five years without interest. But it doesn’t allow you to stop paying the mortgage altogether. “In some areas of the country, you are able to wipe out a second loan that has become unsecured because the value of your property has dropped,” Detweiler says. “Unfortunately, our current bankruptcy codes let borrowers negotiate any kind of debt but mortgages.” )

Read more at 

6 strategies for dealing with an underwater mortgage

When you come for a visit to Las Vegas head to downtown Freemont street and take a ride on the zip line.

Las Vegas is the first and only city of that I know of that has a zip line running downtown!

Las Vegas Zip Line Downtown Freemont Street VegasDawn.com

Head over to my You Tube page too….http://youtu.be/50Xm7dbm8zY

Freemont Street can be an interesting spot for people watching too, you just never know what you may see!

Mortgage Forgiveness Debt Relief Act Expires in 2012 Posted on September 26, 2011 by Stout Law Firm

Do you owe more on your mortgage than what the house could sell for and Wells Fargo is your lender?

Then you maybe able to do a Wells Fargo Short Sale.

Call now (702) 812-4550 to list your home for sale.

Wells Fargo Short Sale – Las Vegas Short Sale Agent

Have you had any of these things happen to you?

•Your home is worth less than what you owe
•You are behind on your payments • You are getting a job transfer • You are in foreclosure
• You can’t afford the cost of selling your home • You lost your job and can’t afford your home
                                                                                                                                                        

 Benefits of a Short Sale:

• Avoid Foreclosure • Avoid Bankruptcy • Reduced damage to your credit • Possible Postpone your foreclosure sale date •Most Lenders will pay the agnet commission • Saves YOU $ in the long run and  You can Move on with your life

Las Vegas Short Sale Agent Realtor® Dawn Barrier*Short Sale Help*Las Vegas Summerlin Short Sale Agent, North Las Vegas, NV short sale agent

Disclaimer

Snippet from the article: 

Like many pending lawsuits over the same issue, the new suit charges the Southern Highlands HOA has been requiring buyers of foreclosed homes to pay “unlawful lien amounts’’ and “excessive’’ amounts under the association’s recorded covenants, conditions and restrictions (CC&Rs).

Max the cat is looking for a new home.

If you or anyone you know could find a place in their home for Max, please contact

Siena Animal Hospital

 

 

The Super Run Car Show ends Sunday so get out there as it is a FREE event.

I went to an Awesome car show yesterday in downtown Henderson, Nevada.

The Super Run Car Show is a Free event that ends today so if you want to see some of these cool cars head out now.

Below are a few of the cars to see.

A huge price reduction may also be the key to getting an offer on the home.

Cross promoting restraunts, bars and neighborhood hangouts that are within walking distance to a home can be a plus for a home seller, provided the home is “really” in a “desired” area and the home has great features or possible potential.

Due to the way the economy is, now more than ever, many prospective home buyers now want to be close to near public transit, shopping, hospitals and schools.

Parks, recreation and the local gym are things that buyers may want to be near as well.

Dogs are a huge part of  many of  today’s familys, providing love, companionship, security and more so with that in mind if your home is near a dog park or parks that allow dogs is another possible selling point.

With sites like WalkScore.com , Realtor.com, Zillow.com, Google,  many potential home buyers will check out what is in the area near the home for sale “before” ever going for a drive by.

Check out this article on msnbc.com Home seller offers $1,000 in booze to buyer

Go to the Las Vegas Sun to read more….

Authorities bust marijuana grow site in Spring Mountains

or you can go to 8newsnow….previous video on pot found at the mountain

Pot Farm Bust on Mt. Charleston