I have practiced law in Las Vegas for the past 26 years. I have had the opportunity to witness and learn from "Boom & Bust". Real Estate cycles which have occurred in our valley. My mentors have taught me that success in real estate is a product of "doing your homework and timing when you sell/purchase real estate.
My practice areas in real estate include:
In cases where temporary setback has occurred, there are specific options which can be used to engage Mortgage Lenders to "save" (Reorganize Property) i.e If you can pay mortgage now, then contacting Bank for modification makes sense. Petition for Referral to Mortgage Mediation Program (State Court) can be an effective option petition (Looks like lawsuit) must be filed within 30 days of service of Notice of Default. After petition is filed, Bank answers the petition. The Mortgage Modification which can occur if homeowner can show " regular income" and "hardship" which caused Mortgage to be in arrears. Process is pretty quick. Petition for Judicial Review (Appeal) is also available in regard to this process.
It is interesting that lawyers are required to sell Real Estate on the East Coast. The rationale for engaging an attorney to sell your house is to have someone look out for your interest. I will offer the same advice that I tell my kids. As much as possible be careful and thoughtful in making decisions. Any person that is "overselling" or stating things quickly to you because you "need" to understand what they are saying right away, are warning signs to avoid for in real estate transactions as well as life decisions in general.There are key items to consider when evaluating real estate sale (Comparable Real Estate Sales) as well as Title History/Liens. Each person’s own personal circumstances should decide when and how much your house should be sold for. Individuals with permanent change in health and/or income need to focus on selling their house right away.
Some cases require going to Court. I have litigated a variety of issues concerning real property. At present, I am Counsel of Record in Wrongful Foreclosure Cases. In particular, I have been successful in obtaining TRO and Preliminary Injunction so we have the opportunity to obtain order to reverse foreclosure sale. In addition, I am Counsel of Record in which " Rogue Creditor" has prevented my client from selling his house. The bottom line is that litigation process will provide mechanism to Quite Title so house can be sold.
