The Simple Way to Sell Your Home. Get Your Cash Offer in Just 7 Minutes. No Obligation, Call Now 702-602-8774

How to Avoid Foreclosure in Las Vegas

Some homeowners (as well as several lending institutions) are still stinging from last decade’s Financial Crisis that drove the United States economy into a ditch. The Financial Crisis deeply affected the real estate market, too – home sales were down to their lowest in years as young people graduated college left and right without finding work that paid enough to save for a home. Throughout this, homeowners, too, were finding themselves out of work, and having a difficult time making ends meet, including meeting their mortgage obligations. In 2010, the impact of the Financial Crisis hit its peak in the real estate market with over 2,000,000 reported foreclosures on homes alone. This affected businesses, schools, and other local organizations. 

Hard as Las Vegas was hit by the Financial Crisis, the city has bounced back, and has been a fast-growing city for years. But even with the glitz and glamour of the Strip and the fun family options, Las Vegas residents may still find themselves in a difficult financial situation where they home could be compromised. Foreclosure happens when you fall so far behind in your mortgage payments that the bank takes ownership of the home to settle the debt. Foreclosure is a long and tedious process, for both the homeowner, and for the bank. Avoiding foreclosure should be the goal of any property owner, and there are so many reasons why. 

Why You Should Avoid Foreclosure

selling to avoid foreclosure

The biggest, yet most-overlooked reason to avoid foreclosure in Las Vegas is the emotional toll that it can take on you. Even if you don’t love your home, the time that you spent there has some fond memories, and you may have had plans to do some upgrades, and sell your home at a price higher than the one for which you bought it. If you’d planned to live in your home forever, foreclosure can be devastating. The emotional hardships, though, are eclipsed by the immense financial consequences that come with foreclosure in Las Vegas, or in any city. Foreclosure leaves a monstrous mark on your credit that can affect other purchases that you might want to make in the future. This could include home purchases, car purchases, or even opening a new line of credit. Even worse, if you’re able to make larger purchases, you may find that your interest rates are much higher, or that higher percentage down payments are asked of you. Having good credit is essential to having easier access to the things that you need to live in Las Vegas. What’s more, foreclosure isn’t just a tedious process for the homeowner – it’s tedious and complicated for the lending institution, as well. 

When a bank repossesses a home, the bank takes full responsibility for the home. This means managing the home’s care, something for which the bank must hire a Las Vegas real estate agent.  The bank must also hire a home inspector, and possibly an appraiser. After all of the time and money the bank must spend when they take possession of the home, the home must receive any necessary repairs, and possibly upgrade the property. Once all of the repairs and necessary upgrades are finished, the home will enter the market, usually marketed as the foreclosed property that it is. The Las Vegas real estate agent responsible for selling the home may spend weeks marketing and networking the home to potential buyers, and your lending institution will have to see that all of this is done. 

How to Avoid Foreclosure in Las Vegas

Avoiding foreclosure in Las Vegas starts with ensuring that you are up to date with all of your mortgage payments. Falling behind on your mortgage happens to the best of us with the best intentions, so don’t think that you will face foreclosure by missing a single payment. Be advised, though, that your lending institution may choose to report anything that they feel is a red flag to the credit bureaus, including missed mortgage payments. 

The next important step to avoid foreclosure in Las Vegas is to seek counseling. You have the option to contact a real estate attorney, who may then refer you to a real estate attorney who specializes in foreclosures. If you can’t, or don’t want to talk to a real estate attorney, the Making Homes Affordable Program may be able to help. This federally-funded program is designed to assist people who are facing financial hardships that may cost them their home.  

Another good way to help yourself if you fall behind in your mortgage payments is to communicate with your lender. Perhaps this is counterintuitive to some, but for the reasons explained above, your lending institution will have options for you, including refinancing your home for a lower interest rate. It is also possible that your home’s mortgage may roll over to another bank. It happens, occasionally, that another lending institution will buy your home’s mortgage from your lender. When this happens, the new lender is required to notify you within 30 days of the transaction. Your new lender may also have other options for you that can help you navigate or resolve your debt to the bank, including all of the associated fees. 

Refinancing your home is an option offered by most lending institutions that can help you whether you have a fixed or adjustable rate mortgage. This is part of the reason that communicating with your financial institution is so important: you will save both yourself and your lender a heap of trouble if you let them know that you are forthcoming with them.  

If Foreclosure Happens to You

You should know that foreclosure isn’t the end of the world. It is certainly difficult to manage, but you will have opportunities to save yourself. First, open yourself to the possibility of selling your home before foreclosure. When you do that, the payments for your home then become the responsibility of the new owner. Hiring a Las Vegas real estate agent to help you in this process is essential, as the process can be long and involve quite a bit of paperwork. Having someone to guide you through foreclosure is invaluable, but preventing foreclosure is always possible. 

Ricki Irwin
Ricki Irwin
00:06 24 May 19
This was so easy Casey was very helpful and kept in contact through the entire process thank you again for everything. Highly recommend this company.
Lela Leedham
Lela Leedham
03:08 22 Feb 19
Great experience working with Casey and Ryan. We would recommend them anytime. They are very knowledgeable and very professional.
Emily Binder
Emily Binder
21:16 18 Feb 19
Jennifer Gibbs
Jennifer Gibbs
19:58 18 Feb 19
A very impressive operation. Very professional and knowledgeable. They follow up when they say they will. Very helpful Team. If you're looking for a fast and fair cash offer on your home, these are the guys to call!
Mario Elizondo
Mario Elizondo
19:58 18 Feb 19
Very professional and a pleasure to work with.
Danny O'Bannon
Danny O'Bannon
19:53 18 Feb 19
I called 5 different companies from google trying to find a company that would pay the most for my rental and their offer was higher than the others. Extremely streamlined process. Easiest transaction I’ve done
Ross Greene
Ross Greene
18:04 17 Feb 19
Ryan & Casey were great to work with! Absolute pro's in the business. I would definitely recommend them. If only I could give them more than 5 stars. Hope to work with them again soon! Thanks guys!
Pam Dickerson
Pam Dickerson
23:53 15 Feb 19
Excellent customer service! Helped us through the entire process. Highly recommend!
steve Balsacker
steve Balsacker
19:35 14 Feb 19
Me and my wife had gone through a divorce and we wanted a quick way to get rid of our property so we could just move on with our lives, Thankfully Ryan came in and helped us out, I didn't have the time to deal with the headache of people coming in and out as well as all the repairs that were needed. He gave me top dollar for my home and I was out in 7 days!
jason almeida
jason almeida
16:52 14 Feb 19
We have seen their signs around town and thought it was a scam, we decided to give them a call and I couldn't have been happier with our experience. They were professional and knowledgable, they paid for all closing costs and even helped with our family move. Great guys and great company! Thanks again!
Peter Floratos
Peter Floratos
04:51 14 Feb 19
This team handles their business right. They are a pleasure to work with.
Tyler Hubbs
Tyler Hubbs
04:38 14 Feb 19
Ryan and Casey treated me with patience and respect during the whole transaction! Very trustworthy and explained each and every question I had!! I would highly recommend We Buy Any Vegas House!!
Dennis Ripley
Dennis Ripley
03:55 14 Feb 19
Very professional and very knowledgeable from start to finish. They went above and beyond to help me find what I was looking for. I would definitely recommend them.
Avraham Metal
Avraham Metal
01:58 14 Feb 19
As a Real Estate Agent I have sold properties to Casey and his Team. They are men of their word and have never let me down.
Dena Shapiro
Dena Shapiro
01:29 14 Feb 19
What an AWESOME experience!! Casey and Ryan are THE BOMB!! They either answer their phone ALWAYS or respond within minutes. They originally called to see if I wanted to sell but I wasn't interested in selling. However, my neighbor had to sell immediately so I referred them to her, she accepted their offer & they closed escrow within weeks. It would've been A LOT sooner but there were delaying issues on the seller side. Anyways, they got it closed & EVERYONE is happy!! Thank you so much Casey & Ryan :). YOU'RE THE BEST!!!
Ron Lorenzo Woods
Ron Lorenzo Woods
00:51 14 Feb 19
Great team with quick and professional service!
karina giraldo
karina giraldo
00:36 14 Feb 19
Knowledgeable, fair, and professional. I loved working with Casey. I did my research before selecting a company, and I’m so happy I went with them!
Cody Raynoha
Cody Raynoha
00:27 14 Feb 19
Casey runs a great company that's honest, easy to deal with, and is always fair. I'd absolutely work with him again!
Whitney Carter
Whitney Carter
21:42 08 Feb 19
Grateful to have worked with such a great company! Long story, short they really did help me through a tough time. No need to get into details, but this company really knows what they are doing. Thank you for all of your help with my home. Highly HIGHLY recommend!
Alan Giblin
Alan Giblin
23:01 07 Feb 19
I was shocked when I heard that We Buy Any Vegas House could sell my house so fast without any fees or charges at all. Thanks again guys!
Crosbey Proffitt
Crosbey Proffitt
22:48 07 Feb 19
I started off using a realtor thinking that I would be able to sell my home fast, but that wasn’t the case. I ended up reaching out to different companies and I ended up finding We Buy Any Vegas House. They were on it the second I reached out to them and were able to sell my home fast!
Investors
Investors
18:59 07 Feb 19
I have been in Real Estate for many years, it’s so refreshing to meet such professional, kind people to work with. We Buy Any Vegas House has great employees who are responsive and get things done quick. You can tell they have a true passion for what they do. If you are looking to work with a great team and you want to sell your house quick, I highly recommend this group!
Scott Henry
Scott Henry
18:53 07 Feb 19
We Buy Any Vegas House truly is one of the most reliable companies I have worked with. You can really tell that Casey and Ryan really care about what they do and really want to make you feel comfortable in the process. Thank you for all your guys help!
Ashlyn Mazur
Ashlyn Mazur
21:26 02 Nov 18
Most professional real estate company I've ever worked with! Would for sure recommend them!
Ashley Thompson
Ashley Thompson
18:59 02 Nov 18
I called 3 different companies and Casey was the most responsive. His offer was higher than the other ones as well. I really liked that they were a local company and everyone who helped me in the process was great to work with!
Katrine Baker
Katrine Baker
18:39 02 Nov 18
My mom and I had to move out of our house pretty quickly due to her martial differences. They were honest and extremely professional during the process and we are forever grateful to have worked with such a great company! Highly recommend!
Gregory Mitchell
Gregory Mitchell
00:26 01 Nov 18
Unfortunately, I never thought I would see myself having to get rid of my home, especially in a fast time frame. However, life happens, and I needed to sell my home quickly due to a death in the family. I reached out to 4 companies in Las Vegas, and We Buy Any Vegas House not only was the most efficient, but the friendliest, most reasonable, and compassionate. The other 3 companies did not even compare. Casey and Ryan have gone above and beyond to make sure that this worked for me. They truly care about you, which means a lot especially during a tough time. They put in the effort to care about the client first, as well as my family during this tough time. I am so grateful to have found them, and to top it off, they bought my house and put cash in my pocket in 7 days. Would recommend to all! Use this company, you can't go wrong! Thanks to Casey, Ryan and John!
Samantha Bonneville
Samantha Bonneville
00:23 01 Nov 18
We buy any houses is one of the most honest companies I have worked with. They are always upfront with issues of the houses, honest with fees And closings. We have not had a bad experience after 10+ Transactions
Alyssa Trent
Alyssa Trent
23:08 31 Oct 18
I worked with them to help my Mom sell her house and they were so amazing!! They explained to us exactly how everything worked step by step. I called them on a Monday and they got us cash by Thursday. Casey is such a genuine person.
Robert Johnson
Robert Johnson
22:10 31 Oct 18
After a tenant trashed my rental property, I was faced with the decision of remodeling or selling the property in its current state. I called Casey and he walked me through the entire process, start to finish. After factoring in the amount of time and money the remodel would take, it was clear that selling to them was the best decision for me. Within a week of my first contact with Casey and his team, we closed on the property and I had cash in hand. I'll definitely be reaching out to them in the future. THANKS!!!
Corey Trent
Corey Trent
02:33 31 Oct 18
I reached out to Casey and Ryan when I needed to sell my house. They were very professional and helped me through this tough time. They were able to buy my house and close fast. What a great team they are! I would recommend them to anyone. Thanks again!
John Washington
John Washington
02:24 31 Oct 18
As a very skeptical person I always believe that my best interest is not priority when dealing with people that want my business. I cannot name the countless times that I have been burned. After looking to sell my house for a cash offer, I was called by a lot of investors, most of which had very little customer service. Several didn't return call when they said they would and then when they finally called me back, they got anger when I decided not to use their Services. From day one Ryan not only treated me like is #1 customer but also treated my whole family like long time friends. I most also state that his offer wasn't even the highest. I took the lower off with him due to the fact that he help with crucial tax situations that I needed taken care before receiving them money so it wouldn't bit me in the butt later. He answered every call before and after the process was completed. 99% of others wouldn't have even answered a text once they got the money. Could I have made a couple of thousand dollars more with someone else? Sure, but the peace of mind in knowing that it was done the right way by someone who actually was professional and care was more than worth it. Ryan has made a customer and friend for life.
Green Girl
Green Girl
00:00 31 Oct 18
I was in a really tough spot because my Husband was in the Hospital and had passed away. I was completely unready for this and had discovered that there would be considerable expenses!  I had received several letters from companies interested in the property on an "as is" basis.  Most had never got back to me after I called them or were too low of offers.  I put an inquiry in their website and was immediately contacted by the Owner who was able to come the very next day!  The entire process was easy and professional.  Thank you We Buy Any Vegas House!
Mike
Mike
23:37 30 Oct 18
Casey and Ryan were so helpful! I was was a week from being Foreclosed and they were able to get me cash in my account in 5 days! And even let me rent back until I was able to find a new home!
Karl Workman
Karl Workman
21:03 30 Oct 18
This company was not only the most professional real estate company i've dealt with, but they're the most reliable and respond quicker than most companies i've ever dealt with. They were fast, professional, and knowledgable in all aspects of our deal. Would and plan to recommend them to all of my friends and family! 10/10.
Next Reviews