Principle Reductions are here in Las Vegas

In today's market more home owners are getting principle reductions than loan modifications.  Call now to get your principle reduction.  With the prices going up a principle reduction can mean the difference between short sale or sale for equity on your home!

Click here to learn more

Call Amanda Brown at 702-496-7416 to learn more
Lasvegasshortsalesnow.com

Equity sale in Centennial Hills, Las Vegas

Call us now to see this ready to move in 2 bedroom, 2 bath condo in Centennial Hills, Las Vegas.  All appliances are staying, osmosis water system, new carpet (one year old) with upgraded padding. custom paint, fans in master bedroom and living room.

9303 Gilcrease Ave. - click for tour of condo


http://www.lasvegasshortsalesnow.com 9303 Gilcrease Avenue is a Las Vegas Home for sale and ready for move in. There are no banks involved in this traditional sale. Call Amanda Brown for more information about this home and other Las Vegas Real Estate for sale

Amanda Brown
Platinum Real Estate Professionals
702-496-7416
brownnvrs@gmail.com

Economic Update - June 24, 2013

To ensure continued receipt of this email, please add sean.uyehara@prospectmtg.com to your address book!

Sean Uyehara Senior Loan Officer Prospect Mortgage 2370 Corporate Circle, # 190 Henderson, NV 89074 Office: (702) 492-4664 Cell: (702) 336-4980 Fax: (877) 801-9423 sean.uyehara@prospectmtg.com NMLS# 338525  • Learn about home loans • Use loan calculators • Apply for a home loan Referral Request:  Please forward my contact information to anyone you know with a need for real estate financing!   Like Prospect on Facebook Follow Prospect on Twitter Follow Prospect on LinkedIn In the News The National Association of Home Builders/Wells Fargo monthly housing market index rose eight points in June to 52. This marks the first time the index has been above 50 since April 2006. An index reading above 50 indicates positive sentiment about the housing market. Consumer prices rose 0.1% in May, following a 0.4% decrease in April. Compared to May 2012, consumer prices have risen 1.4%. Consumer prices at the core rate — excluding volatile food and energy prices — were up 0.2% in May. The combined construction of new single-family homes and apartments in May rose 6.8% to a seasonally adjusted annual rate of 856,000 units. Single-family starts increased 0.3%. Volatile multifamily starts rose 21.6%. Compared to the previous year, housing starts were up 28.6% in May. Applications for new building permits, seen as an indicator of future activity, fell 3.1% to an annual rate of 974,000 units. The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending June 14 fell 3.3%. Purchase volume fell 3%. Refinancing applications also decreased 3%. Existing home sales rose 4.2% in May to a seasonally adjusted annual rate of 5.18 million units from 4.97 million units in April. Compared to a year ago, existing home sales were up 12.9% in May. The inventory of unsold homes on the market rose 3.3% to 2.22 million in May, a 5.1-month supply at the current sales pace, down from a 5.2-month supply in April. Initial claims for unemployment benefits for the week ending June 15 rose by 18,000 to 354,000. Continuing claims for the week ending June 8 fell by 40,000 to 2.951 million, a new recovery low. The less volatile four-week average of claims for unemployment benefits was 348,250. Upcoming on the economic calendar are reports on the housing price index on June 25 and pending home sales on June 27. Share:

Couple charged with bank fraud in short sale

By CAITLYN BELCHER
LAS VEGAS REVIEW-JOURNAL

A Henderson couple was charged in federal court Wednesday for committing bank fraud against Wells Fargo Bank, according to the U.S. attorney’s office.

Cynthia Hosbrook, 41, a current licensed real estate agent, and Robert Hosbrook, 51, a former licensed real estate agent, are accused of having a relative act as a straw buyer to purchase their Henderson residence in March 2010.

Acccording to bank documents, the Hosbrooks falsely reported to Wells Fargo that their house would be sold in a short sale to parties who were not relatives or business associates, and they would not live as renters at the house after it was sold.

The Hosbrooks also had the relative sign a false and fraudulent title company form in July 2010 stating the relative would be residing in the house, according to officials.

The couple was charged with bank fraud and conspiracy to commit bank fraud and are summoned to appear in court on June 21.

If convicted, they face up to 30 years in prison and fines of up to $1 million on each count.

Contact reporter Caitlyn Belcher at cbelcher@reviewjournal.com or 702-383-0264.

Las Vegas Short Sale Realtor Amanda Brown asks Home Owners Why Pay Attorney Fees

Las Vegas Short Sale Expert and Realtor, Amanda Brown talks about not needing to pay high attorney fees for your short sale.  With Amanda Brown you will get the same support with out high attorney fees.

http://youtu.be/LaML0Qn4YNk

Amanda Brown
702-496-7416
lasveasshortsalenow.com
brownnvrs@gmail.com

AB 300 Passed!

 Assembly Bill 300 Has Passed.

In case you haven't heard:  effective June 1, 2013,  AB 300 passed.  Obviously this is good news because banks can now pick up the REO pace and help normalize the market.  We've all been eager to see this "clean-up" bill enacted.

What is Assembly Bill 300:

By HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL

An Assembly bill submitted in March would modify a controversial requirement that delays real estate lenders from foreclosing on properties secured by a residential loan.

Assembly Bill 300, introduced by Assemblyman Jason Frierson, D-Las Vegas, takes aim at one portion of a 2011 law intended to prevent illegal foreclosures and protect property owners’ rights.

The law currently requires lenders to provide a notarized affidavit of authority to exercise power of sale under a deed of trust. Anyone signing documents on behalf of a lender must have “personal knowledge” of who owns the promissory note on the loan.

The law essentially choked off the foreclosure process in Nevada, reducing default notices from about 4,000 a month to fewer than 1,000 immediately after it took effect in October 2011. Notices of default have since ticked back up to about 1,500 a month.

It also allowed delinquent homeowners to remain in their homes without paying their mortgage, waiting for the bank to schedule a trustee sale, which in some cases takes two years or more.

AB 300 would clarify the “personal knowledge” requirement, Frierson said Friday. It provides that certain information in the affidavit could be based on “direct, personal knowledge” that the person who makes the affidavit obtained from reviewing business records of the beneficiary of the deed of trust and information from the county recorder or title insurance issued by an agent authorized to do business in the state.

“It just clarifies what they’re able to attest to based on personal knowledge,” Frierson said . “Realtors, title companies, bankers and legal aid all came together and said this would satisfy their concerns about personal knowledge.”

Changing the language of Assembly Bill 284 — which became known as the “robo-signing” law — could be the last legal stumbling block holding back foreclosure proceedings in Nevada, real estate agent Mark Rowley said.

Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.

So what does this mean to you, a Las Vegas Homeowner?  It means banks can start to foreclosure on a homeowner quicker than what they have been able to in the past.  So don't wait to consider short selling your home.  Call Amanda Brown now to get the process started, 702-496-7416!

Silverado Ranch, Las Vegas, NV Obama Administration Extends Making Home Affordable Program 05/30/2013

An exciting extension that will help Las Vegas Homeowners!

U.S. Secretary of the Treasury Jack Lew announced Thursday that Treasury is extending the Making Home Affordable Program for another two years. The new expiration date is now set for December 31, 2015.

The program offers help to homeowners through solutions including the Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives (HAFA), and the Second Lien Modification Program.

As of March, an estimated 1.1 million struggling homeowners have received a permanent modification through HAMP.

The move aligns with the Federal Housing Finance Agency’s (FHFA) extension for the Home Affordable Refinance Program (HARP), which was first announced in April.

NEED TO SHORT SALE, CALL AMANDA BROWN IN SILVERADO RANCH, LAS VEGAS 702-496-7416
lasvegasshortsalesnow.com

Las Vegas Sees Price Jump in Foreclosure-Related Sales, Silverado Ranch

IF YOU NEED TO SALE, CALL AMANDA BROWN NOW!  I CAN GIVE YOU A DISCOUNT RATE ON COMMISSION YOU WILL PAY, 702-496-7416!!!

http://www.8newsnow.com/story/22448593/las-vegas-sees-price-jump-in-foreclosure-related-sales

Posted: May 29, 2013 10:59 AM PDTUpdated: May 29, 2013 9:01 PM PDT

By Steve Kanigher, I-Team Reporter - email

LAS VEGAS -- The average price of foreclosure-related residential sales in the Las Vegas metropolitan area rose 23 in the first quarter of 2013 versus the same period last year, RealtyTrac.com reported Wednesday night.

That was based on an average sales price of $143,155 this year versus $115,940 in the first quarter of 2012.

The real estate analytics company from Irvine, Calif., also reported that 29 percent of the residential sales in Nevada from January through March were non-foreclosure short sales. That placed Nevada fourth in that category behind Rhode Island (44 percent), Connecticut (42 percent) and Massachusetts (40 percent).

Those residences sold on average for $138,290 in Nevada.

Nevada registered 4,512 foreclosure-related sales in the first quarter of 2013, down more than 63 percent from the same quarter last year.

Nationally, foreclosure-related sales in the first quarter of this year were down 22 percent from the same quarter in 2012.

"We expected foreclosure-related sales to be lower given the downward trend in new foreclosure activity nationwide over the past two and a half years, but the decrease in non-foreclosure short sales was a bit of surprise given the 11 million homeowners nationwide still underwater," RealtyTrac vice president Daren Blomquist said.

"Rising home prices in many markets are stunting the continued growth of short sales by reducing incentive for both underwater homeowners and lenders."

FHA Cancellation Changes Are Effective 5-3-13 - Las Vegas Real Estate

June 3, 2013: FHA cancellation changes go into effect today. On the heels of the recent pricing change that increased the short-term costs of FHA MIP, today's changes mark a significant increase in the long-term costs of FHA financing for some borrowers. For loans with FHA financing and an LTV > 90%, borrowers will have to pay for mortgage insurance for the entire term of the mortgage. For those loans with an LTV ≤ 90%, borrowers will be on the hook for as many as 11 years. These changes could cost your borrowers 4x more over the life of a loan when compared with Radian MI*. Ask yourself, if it was your mortgage what would you do? To learn more, go to www.radian.biz/MIvsFHA or reach out to yourRadian Sales Representative today. *Comparison reflects Radian's BPMI monthly premium rates.

Economic Update - June 3, 2013

Sean Uyehara Senior Loan Officer Prospect Mortgage 2370 Corporate Circle, # 190 Henderson, NV 89074 Office: (702) 492-4664 Cell: (702) 336-4980 Fax: (877) 801-9423 sean.uyehara@prospectmtg.com NMLS# 338525  • Learn about home loans • Use loan calculators • Apply for a home loan Referral Request:  Please forward my contact information to anyone you know with a need for real estate financing!   Like Prospect on Facebook Follow Prospect on Twitter Follow Prospect on LinkedIn In the News The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — rose 1.1% in March after a 1.3% increase in February. On a year-over-year basis, when compared with March 2012, prices rose 10.9%, the first double-digit annual gain since May 2006. The consumer confidence index reached a five-year high at 76.2 in May from a revised 69 in April. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence. Pending home sales, a forward-looking indicator based on signed contracts, rose 0.3% in April after a 1.5% increase in March. On a year-over-year basis, pending home sales were 10.3% higher than April 2012. The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending May 24 fell 8.8%. Purchase volume fell 3%. Refinancing applications decreased 12%. The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at a revised annual rate of 2.4% in the first quarter of 2013, compared to the initial estimate of a 2.5% increase. Retail sales fell 0.9% for the week ending May 25, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.8%. Initial claims for unemployment benefits for the week ending May 25 rose by 10,000 to 354,000. Continuing claims for the week ending May 18 rose by 63,000 to 2.986 million. The less volatile four-week average of claims for unemployment benefits was 347,250. Upcoming on the economic calendar are reports on construction spending on June 3 and factory orders on June 5. Share:   Click here to visit my website and apply online: http://www.myprospectmortgage.com/SUyehara