Team to help with Douglas County home foreclosures |

Team to help with Douglas County home foreclosures

Working to address mounting home foreclosure issues in Nevada, U.S. Sen. Harry Reid today announced five mobile resource centers ” including one in Douglas County ” that will be established to help those dealing with debt issues.

“Nevada is facing a foreclosure crisis,” said Reid in a press statement. “Clark, Washoe, Douglas, Elko and Nye counties have been hit hardest by foreclosures. In these counties foreclosure rates have increased 100-300 percent in the last two years. That’s why it’s important that local, state, federal, and agencies come together to identify ways to help Nevadans.”

Credit counselors, lenders, the U.S. Department of Housing and Urban Development (HUD), and representatives from Reid’s office will be at the centers. The Douglas center has been set for Tuesday, Nov. 27, from10 a.m. to noon at the Douglas County Library, 1625 Library Lane in Minden.

“The goal of these mobile resource centers is to provide a place where people in danger of losing their homes can get help. I will continue to do all I can to help address this foreclosure crisis,” Reid said.

While the vast majority of recent home foreclosures are in Clark County, statistics presented last week show that 40 homes in Douglas County have been forelcosed on this year. At least 52 homes in Douglas County are now in pre-foreclosure status.

Nevada Legislative research analyst Dave Ziegler told lawmakers last week that 29,000 Clark County homes are up for sale, just under half of them vacant, which lawmakers interpreted to mean they are owned as investments by speculators.

Ziegler said Nevada has had the highest foreclosure rate in the nation for nine consecutive months ” one filing for every 185 households in September. And he said national experts predict things will continue to get worse for the next 18 months before starting to recover.

The big problem is the number of adjustable rate mortgages are expected to jump upward in the coming year. More than 2 million adjustable-rate mortgages are scheduled to reset around the country by the end of 2008.

Tony Ramirez, of the U.S. Department of Housing and Urban Development, said there are more than 15,800 properties in Nevada in pre-foreclosure status as of August.

He presented figures showing another 11,700 properties have already been foreclosed on.

” Associated Press reporter Brendan Riley and Nevada Appeal reporter Geoff Dornan contributed to this report

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User