PREMIER REALTY GROUP - Nevada Short Sale Information!

If you are considering the possibility of doing a short sale on your Las Vegas home, then I hope this information provides you with valuable insight to help answer your short sale questions and concerns. In 2010, Premier Realty Group has successfully closed more short sale transactions and negotiated more short sale approvals than any Realtor or Broker in Las Vegas.

Surrendering a home worth half of what you owe is NOT a failure, it's a BUSINESS DECISION.  Facing the truth is sometimes the most difficult thing a person can do.  A short sale is NOT the end.  It's an opportunity for you and your family to TAKE CONTROL and WALK AWAY FREE AND CLEAR.  When you do nothing, you feel overwhelmed and powerless; however, when you do a short sale, you are taking control, you feel the sense of hope and accomplishment that comes from knowing you are working to GET YOUR LIFE BACK ON TRACK. 

Nobody wants to lose their home; however, there is no need for you and your family to go down with a sinking ship.  Know when to say ENOUGH is ENOUGH.  Sometimes you have to take a few steps backwards to move forward correctly.  Your mortgage obligation doesn't need to be a prison sentence.  Additionally, a short sale will MINIMIZE DAMAGE TO YOUR CREDIT.  If you are not sure what a short sale is, then call and have someone explain the benefits of a short sale to you.

Nevada is currently ranked #1 in foreclosures and has the highest unemployment in the nation.  Most experts predict that it will take a very long time for the Las Vegas economy to rebound.  In these difficult times, many Real Estate companies have lost their way, however, Premier Realty Group has "LED THE WAY," by helping Nevada homeowners and their families get a FRESH START.  

Many have attempted to save their home through loan modification; however, homeowners have come to realize that LOAN MODIFICATION PROGRAMS JUST DON'T WORK.  Effective January 31, 2011, the Federal Trade Commission has banned loan modification companies from charging up-front fees for negotiating modifications of residential loans.  The loan modification industry has been extremely misleading for homeowners.  Government assistance programs such as HAFA, HAMP, HOPE NOW, and the Making Homes Affordable Program have been complete failures due to the fact that bank participation is voluntary.  According to theLas Vegas Review Journal, "Most homeowners in Las Vegas are so far upside down on their homes that they don't qualify for the government's $75 billion Home Affordable Mortgage Plan." 

THERE IS NO GOVERNMENT PROGRAM, THAT FORCES LENDERS TO MODIFY YOUR LOAN:

According to the Attorney General’s office, money spent by homeowners on mortgage modification is "worse than some of the odds at the casino tables."  Simply put: Banks are not motivated to modify your loan.  It's a sad fact that it remains more profitable for Banks to foreclose, and throw a family out on the street than approve a loan modification.  Banks do NOT care about your financial dilemma...they only care about bottom line profits and their stock values.  Since Banks are looking out for their own financial best interest, shouldn't you do the same? 

Let the experience of Premier Realty Group go to work for you. Whatever your reasons are for selling, our experience with short sales, and our track record for getting them approved will ensure that your home gets sold. LET US TAKE AWAY YOUR STRESS and GET BETWEEN YOU AND YOUR BANK. Please be advised that calling your Bank can be the worst possible thing you can do. Banks are NOT your friends. Banks are debt collectors. They do not represent you. Anything you say to a Bank is being tape recorded and any document you send to a Bank may be used against you to collect the debt. If your home is currently in default, or if you are about to fall behind on your mortgage payment, contact us right away. YOU HAVE OPTIONS. If your home has become the single greatest source of stress in your life, then a short sale may be the best option for you and your family. 

Our Services are 100% FREE to all Nevada Homeowners!

Nevada Short Sale Laws:

Most short sale information available on the Internet is worthless.  Each state has different laws regarding foreclosure and the short sale process.  Many people do not understandNevada Short Sale Laws and most people do not understand the difference between a SHORT SALE vs. FORECLOSURE in NEVADA.  Doing a short sale will minimize damage to your credit, and enable your family to get a FRESH START.  Allowing your home to foreclose WILL result in maximum devastation to your credit, plus you may end up being sued by your bank.  When a home is foreclosed upon in Nevada, the bank has deficiency rights.  After a foreclosure, the bank will issue a 1099-A to both you and to the IRS.  A 1099-A (abandonment) legally enables the bank to come after you for an expensive deficiency judgment lawsuit.  A short sale, however, is MUCH different.  After a successful short sale, most banks will issue a 1099-C (cancellation) which is a legal cancellation of debt.  Banks cannot legally come after you to collect any deficiency once they have issued a1099-C.  Banks will do everything in their power to threaten and intimidate you, however, once a 1099-C is issued, you are on solid ground.*  The above information is not intended as "legal advice" however, this information is available on theInternal Revenue Service web site and is available for all to research.*  Many homeowners are unsure what to do, and are confused by endless television ads from bankruptcy attorneys trying to convince you that bankruptcy is your only option.  Doing bankrupt to prevent a foreclosure is like cutting off your hand because of a "hangnail."  Bankruptcy is the worst case scenario.  Why go bankrupt if you don't need to?  YOU HAVE MANY OTHER OPTIONS. 

Nevada Short Sale Help...

We Solve Problems:

The decision to pursue a short sale for your home can be an emotional issue often dependent on many factors.  For most families, their home is their largest financial asset, however, in Las Vegas; most homes are "upside down" in value, meaning homeowners owe more than their house is worth.  While it's easy to become emotionally attached to your home, it's important that you don't fall into the trap of making the decision a personal one.  

Over 50% of homeowners who get served with a Notice of Default do absolutely nothing.  If you are like so many homeowners and your home is under water and you don't know what to do.. Call us and get the help you need.  We offer Nevada Short Sale Help.  We guarantee to provide you with professional, ethical and confidential service. We can list your home with no yard sign, no flyers and with complete confidentially.  Your neighbors don’t need to know.

Remember, you can NEVER lose your "HOME."  Many people confuse a "House" with a "HOME."  A "House" is simply drywall, stucco, carpet, wood and paint.  A "HOME" represents the special people, treasured memories and personal belongings which go inside.  A "House" can be replaced.  A "HOME" is PRICELESS.  Nobody can take your "HOME" from you.  Love your "HOME," for it will ALWAYS be uniquely yours, not matter where you make your “HOME”.

Las Vegas Short Sale, Reasons to Consider a Short Sale:

Q. Do you owe more than your house is worth?

Q. Are your mortgage payments too high?

Q. Is your monthly payment about to adjust?

Q. Have you been turned down for a Loan Modification?

Q. Have you lost your job, become ill, or lost a loved one?

Q. Do you want to WALK AWAY and not owe a dime?

Q. Are you experiencing financial hardship?

Q. Are you stressed and not sure what to do?

Q. Do you want to avoid foreclosure and get a "Fresh Start?"

Q. Are the banks calling and harassing you at work and home?

Short Sale vs. Foreclosure in Las Vegas

QUESTION:  Isn't it Easier to Simply "Walk Away" and Allow the Home to Foreclose?

Sure, however, this is a gamble which could haunt you for years.  In Nevada, banks have Deficiency Rights associated with foreclosure and "Deed in Lieu of Foreclosure."  This means that if a property is foreclosed upon by the bank, then the bank retains the right to legally sue you for the difference.  Banks have up to six years to file a deficiency judgment lawsuit against you, once your home has foreclosed, or is sold at auction after a "Deed in Lieu of Foreclosure."   Banks may or may not sue; however, if you choose to "walk away" then you are giving your bank the legal power to come after you, should they choose to do so.  

So why do a short sale? It's simple. The difference between a short sale and a foreclosure is substantial. At the conclusion of a well executed short sale, you will be allowed to walk away from the home, without owing the difference between the original loan amount and the current market value of the home. Additionally, banks typically report to all three credit reporting agencies that your account has been "legally settled short of full payment." A short sale shows responsibility on your credit because you made a choice to cooperate with the lender, versus abandoning the property and allowing the home to foreclose.  After the completion of a successful short sale, you may be able to purchase another home in as little as two years, compared to a foreclosure or a bankruptcy which can have a negative impact on your credit for 7-10 years.*

Most banks agree to release their deficiency rights after the completion of a short sale.  Additionally, a short sale minimizes the damage to your credit.  A foreclosure is devastating to your credit score.  After a foreclosure, the banks continue to post "late payments" on your credit, even months after the home has foreclosed.  This can reduce your FICO up to 400+ points.  With a short sale, the banks typically report that the account has been "settled short of full payment."  This minimizes the damage to your credit, and allows you the opportunity to purchase a home again in as little as two years.*