Nevada has been one of the hardest hit housing markets in the country. With so many homeowners losing their homes to foreclosures, and many more fighting off the possibility, local agencies have decided to take action.
As a way to help educate consumers and help fight the high rate of home foreclosures in Nevada, a group of people organized a workshop to assist local homeowners. This past Saturday local community organizations, lenders and government officials teamed up to provide homeowners a foreclosure prevention workshop. Information was presented about how to identify mortgage scams, short sale considerations, how to navigate the foreclosure process and the importance of crisis budgeting. The workshop also provided information about foreclosure alternatives and the ins and outs of mortgage loan modifications.
Although the Nevada housing market has yet to reach the suspected bottom, consumers and lenders alike are hopeful they won’t see that point. Through community outreach and education it is hoped that homeowners will begin to better prepare themselves for the unexpected and have a better chance at successful homeownership. Workshops such as this are just the beginning of many steps that are needed to help turn around a sinking market.