The Resolution Law Group, P.C., Greenwich, Ct.
NORTH LAS VEGAS, NV, June 28, 2013 /EINPresswire.com/ -- The North Las Vegas City Council has voted to move forward with a controversial plan to help homeowners whose homes are worth less than the amount they owe. In following the lead of governmental officials in Arizona, City Council is evaluating the use of eminent domain laws to buy underwater homes at the current market price and then venture with a financing company to sell the homes back to the original owners, with no money down and with a more affordable mortgage payment. Geoffrey Broderick, the senior partner of the Resolution Law Group, says "while the North Las Vegas City Council should be applauded for their willingness to look at creative solutions, it is unlikely that and governmental solution will be adopted that places the financial losses squarely on the banks, and not the borrowers. "
Opponents of this plan include lenders, loan servicers, and the Greater Las Vegas Association of Realtors.
Mr. Broderick adds that "The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself."
The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com
Opponents of this plan include lenders, loan servicers, and the Greater Las Vegas Association of Realtors.
Mr. Broderick adds that "The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself."
The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com
The Resolution Law Group
The Resolution Law Group
(203) 542-7275
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