Community Event Arms Upside Down Southern Nevada Homeowners with Life-Changing Information

LAS VEGAS, NV, June 27, 2012 (Press-News.org) Southern Nevada homeowners who are focused only on government programs like HARP2 or the $26 billion Mortgage Debt Settlement may miss the deadline of the Mortgage Forgiveness Debt Relief Act of 2007 set to quietly go away on Dec. 31, 2012. Most homeowners may not realize the significant tax consequences they face if they have not closed their short sale or foreclosure by the deadline. Coldwell Banker Premier Realty (CBPR) will host a FREE public Neighborhood Awareness Campaign (NAC) on Thursday, June 28, from 6:30-7:30pm at 8290 W. Sahara Ave., 2nd floor, Las Vegas with a panel of industry professionals providing clarity to the recent HARP2, foreclosure and short sale programs for upside down homeowners. Candice Kelley of the Nevada Hardest Hit Fund, a U.S. Treasury approved nonprofit with over $150 million in funds available to qualified recipients will also have information on hand.

The seminar, which is open to the public, is just one in a series of NAC housing events. Another FREE community event will take place on Thursday, July 26 at the Henderson Paseo Verde Library, 280 S. Green Valley Parkway in Henderson from 6:00-7:00pm. "We have assembled a team of experts to provide answers and accurate information that people deserve to know," says Bob Hamrick, Chairman and CEO of Coldwell Banker Premier Realty. "We want people to be aware that they may find themselves stuck with a huge tax bill after their foreclosure or short sale if Congress does not extend the Debt Relief Act - which in an election year with a growing deficit, may not happen." said Hamrick.

Representatives include Wells Fargo, Ticor Title of Nevada, Cogburn Law Offices, Millennium Consulting Group, Premier Mortgage Lending who provides next-day short sale "2nd Chance Financing," along with CPA's Payan & Miles who will share vital information about the tax implications of a short sale vs. foreclosure, and the critically important Debt Relief Act that expires in a little more than 6 months. CBPR's management believes that the average short sale should have an expectation of 3 months to process, and 1 to 2 months to close financing.

Coldwell Banker Premier Realty is ranked number 8 out of more than 1,200 Coldwell Banker companies nationwide. There are three offices in Southern Nevada (Summerlin, Henderson and Centennial Hills) and presently over 240 agent affiliates. The public may email at NAC@CBVegas.com for NAC information, call 702-877-6200 or visit the website at http://www.NACLV.com.

Coldwell Banker Premier Realty is a service-driven, highly productive team of professional sales and support people. We are dedicated to consistently providing superior real estate brokerage and related services, setting the industry standard of value and excellence.