Las Vegas, NV – September 15, 2010 – (RealEstateRama) — The Las Vegas City Council today approved an agreement with the U.S. Department of Housing and Urban Development for $200,000 in funding for the Foreclosure Prevention Partnership Program.
The program is designed to prevent the negative impacts of abandoned and foreclosed properties on communities. The effort educates homeowners about the options and alternatives that may prevent them from going into foreclosure and helping them to maintain their properties.
These congressionally-directed funds result from a grant request by the city of Las Vegas from February 2009. The city plans to use the funds to help bring together the resources of government agencies, housing counseling agencies, banks and non-profit organizations with the goal of providing prevention education and mortgage modification assistance to homeowners.
Since 2007, there has been an estimated 51,881 home foreclosures in Nevada, and Las Vegas continues to be one of the top three cities nationally for foreclosure filings.
Recently, the city of Las Vegas was part of an effort in partnership with Fannie Mae to launch a foreclosure prevention website, www.StopNVForeclosures.org. The information can also be accessed by calling 229-HOME. The resources are free to the public. City officials stress residents fearing foreclosure have a wide variety of free options they should consider before ever paying someone for foreclosure assistance. In fact, in some cases those alleged businesses requiring a foreclosure assistance fee may be perpetrating a fraud.
