Monthly Archives: July 2013

Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the $10.2 million sale of McCarran Corporate Plaza at 5740 and 5820 S. Eastern Ave., Las Vegas, Nev. Chuck Witters, SIOR and Kris Watier, both of the Lee Las Vegas office, represented the seller P-38 Properties, LLC

With Las Vegas and the state of Nevada still struggling to reverse the devastating effects of the housing crisis, Congressman Joe Heck (NV-03) today introduced legislation that would help homeowners who are underwater on their mortgage. The Mortgage Forgiveness Tax Relief Act ensures underwater homeowners are not subjected to additional income taxes if a portion of their mortgage is forgiven. Homeowners who undergo a mortgage refinancing or "short sell" their home would be required to pay an additional income tax on the difference between the homes original value and the current value. However, Rep. Heck's bill would prevent that sum from being taxed as income because the homeowner never actually receives that money

A Las Vegas mortgage agent has been convicted for his role in a “cash back at closing” mortgage fraud scheme that netted $1.43 million in fraudulent mortgage loans, announced Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division, U.S. Attorney Daniel G. Bogden of the District of Nevada, and Acting Special Agent in Charge William C. Woerner of the FBI’s Las Vegas Field Office