AboutDiann Tonnesen Expertise I have over 25 years of experience in real estate in Las Vegas. I can answer almost any specific question about buying or selling homes, condos, high rise properties or land in the State of Nevada as well as general real estate questions that pertain to the industry as a whole. I can also answer questions related to financing on FHA and VA loans, conventional loans, interest only loans, stated income loans, and hard money lending. You can also go to my site at http://www.greatlasvegashomes.com which has lots of information on it as well.
Experience With my husband I have been helping families call Las Vegas home for over 23 years and I still love it! We developed a strong niche in the Internet industry and had to start a team of agents to respond to the large volume of calls we were getting. Currently we have 18 full time agents, a sales manager, two leads managers and two transaction coordinators assisting us. Last year we helped over 280 families and investors find property in Las Vegas.
Organizations Las Vegas Board of Realtors and the National Association of Realtors
Publications PR Web, Las Vegas Review Journal, and interviewed for numerous magazines as well as a broadcast interview for television by CNN.
Education/Credentials college journalism major
Awards and Honors Top agent in the state of Nevada for sales multiple years when working for Century 21 and last year one of the top 10 agents in the country with Prudential.
Past/Present Clients Just too many great clients to mention here, but I can certainly provide a long list of references on request. Or check out our web sites at:
Question I've come across a company offering ridiculously reduced mortgage payments on homes that are on the brink of foreclosure. As it was explained to me, the owners are facing a large balloon payment and rather than lose their home and their credit rating, they are selling the equity. This company buys out the mortgage, then turns around and offers it to new buyers, so as I understand it we'd be getting the home for the value of the mortgage minus however much equity the previous owners had accumulated.
The man I spoke to said there'd be no money down for me and that financing was guaranteed regardless of my credit, and the payments are much lower than the average rent in my area.
I was raised to be suspicious of anything that sounds too good to be true. Tell me, what's the catch here? I'm dubious that at some point my own payments would spiral higher, or the initial interest is low and will rise later, or something.
Thanks!
Answer This definitely sounds like some sort of scam! Just the fact that no legitimate lender is offering financing with no money down regardless of your credit is a huge red flag.
I would certainly have an attorney or Realtor from your area check out any proposals this company gives to you.
