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Help for Home Owners
Las Vegas Real Estate Professional Steve Hawks provides "Free Consultations" and help for Las Vegas Home Owners that are struggling with their mortgage payments. Call Steve Hawks today! 702-458-3999.
Las Vegas Real Estate - Steve Hawks Exposes the Number One Mortgage Fraud Scheme In America.
Las Vegas Realtor and Leading Consumer Advocate Steve Hawks Exposes the Number One Mortgage Fraud Scheme In America. Las Vegas real estate experts and leading consumer advocates Kendall Trotter and Steve Hawks uncover one of the most popular mortgage fraud schemes in the country.
The two realtors blow the lid off one of the main reasons for the credit crunch, the lack of available money for home buyers, the unprecedented write downs and losses of holders of mortgage backed securities. The Vegas experts Trotter and Hawks give details on how unsuspecting buyers became victims of a supposed real estate investment. Little did the homebuyer know that the price of the home was being fraudulently inflated from the original list price and the cash back was going back to a third party llc.
The third party would then rent the homes out collect the rent and then not pay the mortgage. The bank would take the home back the victims credit was ruined and the neighborhood were the group bought theses homes would see their values tumble from the high number of foreclosures.
This started the first wave of Las Vegas home values dropping and is the main reason for the recent unprecedented drop in Las Vegas real estate prices.
If you are a victim of mortgage fraud contact Las Vegas leading consumer advocate for fraud victims Steve Hawks. 1-866-58-Fraud.
The rise in "mortgage walkers" is a new phenomenon for Las Vegas, Realtor Steve Hawks of ReMax Platinum said.
Las Vegas real estate expert steve hawks comments on home owners who owe more than their home is worth. Steve Hawks finished in the top 1% of Nevada real estate agents and finished top 2% in the nation in 2007, 2008, 2009. Steve Hawks is one of the leading real estate agents in the country helping homeowners who owe more than their home is worth. Hawks also is the leading consumer advocate in Las Vegas for victims of mortgage fraud. Steve Hawks has assisted countless victims of mortgage fraud that was taken place during the recent real estate boom.
Home prices have dropped to 2004 levels, so most homeowners who bought into communities built after 2005 are going to owe more than their house is worth, he said. Many are "short-selling" their home, selling for less than the mortgage balance or simply giving the property back to the bank.
"When they try to sell for whatever reason, they either have to do a short sale or get foreclosed on. In addition, many investors purchased in these new areas and now are so upside-down they don't see the break-even point," Hawks said.
"Meanwhile, they're paying on a loan that's probably going to adjust, or even if it's fixed, they can't get the rent to cover the mortgage when their new neighbor just purchased the same house for $220,000 when they paid over $420,000. The person who bought for $220,000 can rent it out for far less, obviously, and the snowball continues."
Homeowners are concluding that the smartest economic decision is to walk away, even if they can afford the payment, Hawks said. It's common to see homes that sold for $350,000 to $650,000 in those high foreclosure ZIP codes now going for $220,000 to $400,000, he said.
Short Sale Czar Steve Hawks
Steve Hawks talks about the Las Vegas home owner receiving over 20,000 dollars back and a full deficiency waiver the loan amount was close to 300,000 and the bank waived over 200,000 and gave the owner who was an investor not even an owner occupant over 20,000 dollars this program is a must see for all home owners who are underwater on their mortgage. Steve Hawks has negotiated millions of dollars off his clients loans and has negotiated hundreds of thousands of dollars in cash back for them. Short sale today and get up to 30k to buy your new home. You have to call a short sale specialist like Steve Hawks.
The short sale solution short sale czar Steve Hawks Henderson hud lawyer loan modification underwater principal reduction reduce mortgage are you upside down on your mortgage don not know what to to do call steve hawks he knows what to do. Is AB 284 helping home owners get cash back for short sale? Take advantage of this short sale opportunity.
Las Vegas Real Estate - Steve Hawks talks about the Short Sale
Las Vegas Home Owners and the Short sale process ask the expert Steve Hawks, B.S Finance Real Estate & Law.
Las Vegas Short Sale Expert Steve Hawks talks about the short sale process.
The current Vegas real estate market has cause many homeowners to have to sell their home for less than it is worth. The process can be very difficult and the homeowner should seek out an expert who has experience in this field. Steve has good relationships with several different banks which in many cases helps the short sale close. Steve and his partner have currently negotiated millions of dollars off their clients loans. If you need to short sale your home or need more information regarding the process contact Steve Hawks and his partner. They have successfully closed millions of dollars short sale transactions.
Are you a victim of Loan Modification Fraud?
Las Vegas realtor Steve Hawks is the leader in helping victims of mortgage fraud. Steve Hawks has helped numerous clients that were victims of mortgage fraud to the tune of over 40 million dollars and counting. If you are a victim of mortgage fraud contact realtor Steve Hawks today 1-866-58-FRAUD
Owe More Than Your Home Is Worth?
Las Vegas realtor Steve Hawks discusses the Las Vegas real estate markets recent drop and the effect on Las Vegas homeowners. Steve Hawks discusses the new phenomena of mortgage walkers "people who walk out on their mortgage because they are owe more than than home is worth. Hawks states that there are several reasons for the recent unprecedented drop in the Las Vegas real estate market.
The first was the rampant puffed up price cash back fraud, the second factor was the predatory lending; consumers being put in higher margin loans even though the loans were not the best fit for their situation. Thirdly homeowners making offers and purchasing Las Vegas homes based on fraudulent over inflated prices believing that the comparables were purchased by a good faith buyer. Fourth factor the home owner thinking that the Las Vegas real estate would continue to rise. When the Las Vegas real estate market dropped and did not continue its unprecedented appreciation the homeowners who owed more than their home is worth and their adjustable rate mortgage is adjusting can not refinance into a affordable loan because they have no equity in their home.
Las Vegas realtor Steve Hawks also states if a homeowner is in the situation where they owe more than their home is worth and can not afford the payment or refinance and need to short sale or be foreclosed on the homeowner should not let this get them down or depressed. Their situation has many outside influences that drastically effected the value of their home which were unprecedented and mostly unforeseen in previous real estate booms.
The high number of fraudulent loans, the predatory lending and the major financial institutions hedging their bets on the American homeowner, in the aspect that the Real estate market would continue to rise and the loans the lenders were giving under favorable short term terms but horrific long term terms would be paid off and refinanced out of the equity from the appreciating market. Unfortunately the appreciation stopped and an actual reverse in equity began.
Don't be a victim of loan modification fraud! Its Free!
Veteran real estate agents Kendall Trotter and Steve Hawks discuss loan modifications and ideas currently in the works in the government to stimulate the real estate market.
The Housing Abyss
Steve Hawks, owner of RE/MAX Platinum real estate agency in Henderson, Nev., says he has been flooded with calls from people interested in "buying and bailing" - that is, buying an additional house while their credit is still good, then walking away from the old one unless they can cut a favorable deal with the lender. So far the number of people who have done so appears to be small. But Hawks says banks are receptive to lending for such purchases because they figure the buyer will be able to afford the new, cheaper place. Also, says Hawks, they know that, since the buyer's credit will become damaged, he or she won't pull the same trick on them, at least for a few years.
100,000 distressed homes in Las Vegas Short sales could triple or quadruple the number from 2009.
Realtor Steve Hawks of Platinum Real Estate said there are some 100,000 distressed homes in Las Vegas, including 70,000 already in some stage of foreclosure. He's heard reports of 25,000 to 45,000 people who've been living in their homes for a year to 18 months without making a mortgage payment and have yet to receive a notice of default.
"The dam is either going to burst or overflow," Hawks said. "Either way, the homes cannot be held back for ever. But 2010 will not be the year of the flood. It will most likely be very similar to 2009."
Banks will release about 10 percent more foreclosed properties than last year, he said. Short sales, or homes sold for less than the mortgage balance, could triple or quadruple the number from 2009.
"Holding back inventory saves banks from taking huge write-downs," Hawks said.
Accounting procedures were changed to allow banks to keep the loss off their books. A bank that has a $300,000 loan on a home that's only worth $100,000 doesn't take the loss until the home is actually sold.
If the bank holds the property at an average cost of $500 a month, it's going to cost about $30,000 over five years. If it sells the home now, the bank takes a $200,000 loss.
"That means they have to raise $200,000 in capital. It's in the bank's best interest to hold off as long as possible," Hawks said. "That's why we will not see a flood of bank-owned homes any time soon. It will only be a trickle. The trickle of bank-owned homes being put on the market is far less than the mortgages going into default. Therefore the shadow inventory will continue to rise."
LAS VEGAS REVIEW JOURNAL ARTICLE
Getting short sales done in as little as 30 days, said Steve Hawks, director of the National Association of Short Sale Professionals.
Some banks are getting short sales done in as little as 30 days, said Steve Hawks, director of the National Association of Short Sale Professionals.
He said 22 percent of mortgage defaults were "strategic defaults," coming on homes that were underwater. Banks need to eliminate the hardship letter for short sales and consider anyone who falls behind on their payment, Hawks said.
LAS VEGAS REVIEW JOURNAL ARTICLE
Steve Hawks in Las Vegas said it will put a big dent in foreclosure rescue scams
Steve Hawks Las Vegas said the loan-modification centers could save homeowners time and trouble. They won't be talking to people who have no decision-making power and sending in paperwork that gets lost or shelved, he said.
"Another positive note to their plan is it will put a big dent in foreclosure rescue scams," Hawks said. "If homeowners can go down to their local branch and get answers, there will be no window of opportunity for foreclosure rescue scams to squeeze money out of unsuspecting victims."
LAS VEGAS REVIEW JOURNAL ARTICLE
Las Vegas Real Estate Update - Where are all of the bank owned properties?