As more and more Las Vegas homes fall prey to the big, bad foreclosure monster, lenders have become more and more apt to working with homeowners and real estate professionals to successfully negotiate a short sale. I have been doing short sales for the past years and half and have had the opportunity to watch lenders loosen their short sale criteria and began to accept more and more short sales. This is great news for Las Vegas homeowners and gives them another real alternative to just walking away from their homes and letting it go to foreclosure. Even better are the laws enacted by congress to waive the responsibly for paying taxes on the difference between what the property was sold for and what was owed (on your primary residence).  Short selling is now the way to go to rid yourself of financial hardships. If you have an adjustable rate mortgage that is adjusting causing financial stress, or if you’re suffering any other financial hardship that is making it hard to make ends meet and are in danger of getting behind on your house payments, give serious consideration to short selling the property and salvaging your credit. You can typically purchase another home with 20% down and perfect payment history after 12 months and with 0% down after 36 months.

Don’t listen to the rumors; call us today for a no obligation short sale consultation.

If you’d like to have a short sale consultation with the Knight Group, contact Bryan Knight at 702-845-8435, or bknight@kw.com .

Bryan Knight, real estate consultant in Las Vegas, Nevada