Smelling big profits, Nevada banks ramp up home reposessions

Screenshot 2018-01-29 at 06.48.36.pngAfter sharply pulling back last year, banks are ramping up foreclosure activity in Las Vegas again.

Why not? With the rapid increase in home values, it’s become profitable to kick struggling people out of their homes so banks can resell them for big profits. It’s how the white elites roll.

The Las Vegas Review-Journal reports that lenders issued an average of about 500 default notices per month in the fourth quarter last year, up from just 32 a month in the third quarter and 380 per month in the first half of 2017, according to figures from housing tracker Attom Data Solutions.

Meanwhile, Home Means Nevada is now fully operational and started issuing certificates Nov. 1 that let lenders proceed with foreclosures, board president Shannon Chambers said.

Foreclosures were sliding in Las Vegas before the law took effect. But the drop last year “wouldn’t have been quite as dramatic without the legislation,” said Daren Blomquist, Attom’s senior vice president of communications.

Lenders repossessed an average of about 160 homes a month in the fourth quarter, up from 100 in the third.

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