Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.

Reid Report
by Senator Harry Reid
Senate Majority Leader

Foreclosure In Nevada
The devastating effects of foreclosure in Southern Nevada continue to impact communities like Boulder City. Empty homes affect the property values of the whole neighborhood and invite vandalism.  I hear every day from Nevadans who are struggling with housing issues.

That’s why, in addition to the work we’ve already done, I have called on Housing Secretary Donovan and Federal Reserve Chairman Ben Bernanke to do more for Nevadans.

In my last meeting with Housing Secretary Shaun Donovan we recalled our tour through a Las Vegas neighborhood devastated by foreclosure. I urged him to take stronger action on behalf of homeowners like the Nevadans we spoke with in the summer. In February, Secretary Donovan announced that the Department of Housing and Urban Development (HUD) will open a district field office with eight staffers, three of whom are dedicated to a rapid response team to provide immediate support to communities that need it most, including the Boulder City/Lake Mead region.

Families want to stay in their homes and banks don’t want to be in the business of selling real estate.  So as HUD begins to work through the cases of Nevadans facing foreclosure, banks must begin to meaningfully renegotiate mortgages and facilitate efficient short sales. I also met with the Chairman of the Federal Reserve about Nevada’s foreclosure crisis. Chairman Bernanke can put pressure on banks to negotiate with mortgage holders and give residents of Boulder City access to these creditors and programs.

We have also worked to help new homeowners invest in their homes. By creating a tax credit for first time homebuyers and extending the credit until April of this year, we can increase homeownership and get empty houses off the market. 

My office in Las Vegas is available to help struggling homeowners get the information they need to apply for assistance.
 
Because Nevadans need help right now I will continue to bring federal and local officials together to speed up efforts to help Nevada homeowners.

  
Contact Harry Reid at http://reid.senate.gov/



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