As the number of foreclosed homes and bankruptcy properties for sale in Nevada continues to rise, lawmakers have asked mortgage firms to put on hold foreclosure proceedings in the state.
Las Vegas Mayor Oscar Goodman has reportedly asked for an investigation on whether state legal interference is possible to stop listings of repossessed houses from growing further.
Las Vegas home foreclosures bowed to traditional sales for the first time in 20 months in January this year. Sales of nondistressed homes shot up and accounted for 53 percent of all homes resold in January while sales of foreclosed homes dropped to 47 percent of total sales.
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