CARSON CITY, Nev. (AP) – Nevada lawmakers want to pull the plug on a program that helps homeowners fend off foreclosure in a sign of just how far the state has come since the Great Recession.
Nevada still struggling with foreclosures
Nevada’s foreclosure rate was third in the nation in February after falling behind Florida and Maryland in the rankings.
Nevada’s foreclosure rate is down to seventh in the nation after dropping about 44 percent year-over-year.
Home prices in Las Vegas are keeping up their double-digit climbs.
Nevada foreclosures increased in May after 27 consecutive months of annual decreases.
A plan to help homeowners avoid foreclosure could be adopted in North Las Vegas.
High demand and low inventory drove Las Vegas home prices up in May.
Foreclosures are decreasing across the country and bank reposessions are at a 65 month low. Locally, the trend is moving in the opposite direction.
Although Nevada is still one of the top five states where foreclosures are a relatively high percent of all mortgaged houses, the nation’s inventory of homes in foreclosure is down.