Smith, Hubble
August 2008
Las Vegas Business Press (10712186);8/18/2008, Vol. 25 Issue 33, pP20
The article reports on the foreclosures in Las Vegas that have doubled from 2007. This is according to reports by housing industry experts who also believed that the adjustable-rate mortgage resets could prolong the misery for an already depressed housing market. The Federal Reserve noted that about 1.5 million loans are scheduled to reset in 2008, while Alexis McGee of Sacramento, California-based Foreclosures.com also cited that Mississippi, Arizona and Nevada are among the states that have triple-digit increases in real estate-owned properties.


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