Short Sales and the Foreclosure Crisis
The various efforts to fix the real estate market have become an alphabet-soup of federal aid and programs. Just this week, the Obama administration announced new incentives to speed up so-called short sales - the selling of houses in depressed markets at the current price rather than waiting for home prices to improve. So who's eligible for the new program? Who's eligible for other programs? And how do they all work? And the big question - will any of it work to fix up the real estate market. We talk with local HUD operations specialist Phyllis Hargrove, a short-sale realtor and a legal aid attorney who's worked on foreclosure issues.
Phyllis Hargrove, Operations Specialist, Las Vegas Field Office, HUD
Paul Bell, Realtor, Prudential Americana
Christine Miller, Attorney, Legal Aid Center of Southern Nevada