The federal government has been trying since 2008 to arrest the foreclosure crisis. The goal is to keep homeowners in their homes but the further home prices have fallen, the harder it has been for Nevadans to qualify for federal assistance. Last year, the Obama Administration promised more funds for states like Nevada where homeowners were under water in their mortgages by as much as 160 percent. The Nevada Affordable Housing Assistance Corporation is now taking applications for the $194 million available for mortgage assistance.
Lon DeWeese, Nevada Affordable Housing Assistance Corporation