Help could be on the way for homeowners in the foreclosure crisis. Governor Jim Gibbons met with lenders in Las Vegas Thursday to come up with solutions so Nevadans can avoid losing their homes.
But Marie Mortera tells us not all homeowners are waiting for state leaders to act. One homeowner we met says the competition is just too much and is now trading the classified ad for an auction.
"We're cleaning up the last little bits right now," home seller Skip Rohl said. Little sleep and lots of work. That's the way it's been for this investor on this mission to sell his home this weekend. "This home will be sold for the highest reasonable bid," Rohl explains.
But given today's market, all Skip can do is hope for the best. His starting price is close to what he paid for it in February: $191,000. "Like many home owners, I'm ready to take an even break on it and get it off my hands and move on," Skip says.
And he'd be lucky if he does. 1.7 million homeowners across the nation are expected to foreclose by the end of 2008.
"Too many Nevada families, hardworking families, are about to lose their homes to foreclosure," Governor Jim Gibbons told lenders at Thursday's economic summit in Las Vegas. The focus of the summit: how to get homeowners out of the mortgage meltdown. "We don't want to point fingers, assess blame, but we want them to freely and opening talk about solutions to solve this problem," Gibbons said.
Still, it's a problem he admits, can't be fixed immediately, no matter what they come up with.
For Rohl, hoping for a fix won't help him now. He's days away from his silent auction and all he can do is focus on ending this weekend with what months of waiting couldn't get him... a sale. "If it works, if it's successful, I sure wouldn't mind providing hope for other home sellers, really," Skip said.
There's no time frame for the governor's solutions but he says they'll likely come sooner than later. However, he adds since the housing problem didn't happen overnight, it's something that can't be fixed overnight either.
