President Causes Controversy With Vegas Comments

President Obama may have gotten himself in hot water with local officials…again. According to thehill.com, at a town hall meeting in Nashua, New Hampshire today, the President said, "When times are tough, you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash in Vegas when you’re trying to save for college."

The comments prompted a strong response from Senator Harry Reid, who said "the President needs to lay off Las Vegas and stop making it the poster child for where people shouldn’t be spending their money." http://www.kxnt.com/

His first shot a year ago trashed the economy, and now he’s at it again… Telling US how to spend OUR money….

Is this another amateur screwup by the bloviator in chief? Or does he just hate Las Vegas?
FACT – I live in Vegas, and his FIRST comment trashed the economy BEFORE the sh\t hit the fan nationally… Now 15+% unemployment…. MULTIPLE conventions were RELOCATED to other venues… cost the city MILLIONS in revenue…. ARGUMENT FAIL!
And NOW he’s at it again… he is either ignorant, arrogant, spiteful or all of these…

This economy sucks and I lost my job about a month ago. I want to find a well off guy to take care of me during this tough time. bills and mortgage must be paid don’t u agree? Is las vegas a good place for this type of thing?

Back in 2006 I fell into the timeshare scam, the las vegas one, seemed like a good deal and all is well and good until I hit some hard times and couldn’t pay them. The weird thing is is that while I was paying them on time they never reported it to the credit bureau, but now that I fell behind they and plus they put it as real estate. I thought that if you buy a piece of real estate and you have a mortgage, they have to report if you are paying or not the credit bureau?

Im thinking of foreclosing my home in Las Vegas. I stopped paying my mortgage for 2 mos. and I will be calling the lenders to notify them soon. But someone told me that foreclosure’s not for everyone. I can’t afford my mortgage anymore, but I’m not affected by the ARM loan. What procedure should I take??? Will my financial and or material assets be touched?

My husband’s trade is carpentry, and it’s all but died down in Northern Nevada. We knew this was going to happen a year and a half ago as his work became more and more sporadic. We listed our house on the market at that time and have come down considerably in the last year and a half in the hopes of relocating out of state to where building is thriving. Unfortunately, many houses in our neighborhood have foreclosed or short saled and we did not receive one offer because of them. Now, my husband is only guranteed work through the summer and we need to move soon. We cannot rent out our home as we have a HELOC on our mortgage that makes it more than what we can rent it for. We are now looking to foreclose or do a short sale. What should we do? I’ve been told that a foreclosure looks just as bad as a short sale on a credit report, and what are the tax implications for both? How can we get rid of our HELOC?

mortgage is. I know a few realtors who tell me now is the time to buy another house, and to do a shortsale on my older one. What can happen if I let it go to foreclosure, in case it doesn’t sell? Can I get a deficiency judgement? Will I pay taxes on the unpaid amount if it sells short? Can the bank come after me when they know I bought another house? Can they put a lien on the new house? I am so confused, i don’t know what to do! Should I consult a lawyer? or a Tax Expert? I need an accurate answer, please! By the way, I live in Nevada…

I live in CA but have a investment prop in Nevada that I want to walk away from because I am about 100K upside down in my mortgage. I read that CA is non-recourse state and NV is a recourse state. What I am wondering is whether the situation applies to where I live or where I bought the property. In other words, if I walk away and foreclose, can the lender get after me for the delinquent amount somehow? Thanks, G

My wife and I just had our first child, now three months old, and I want nothing but the best for them, so I want to move from california to las vegas nevada because I could afford to buy a house there, plus the house we liked is only 0,000 since the prices went down big time, it was worth 0,000 last year. I would get the house, and look for a new job in vegAS, IN ORDER TO PAY FOR MORTGAGE, thing is , is now the time to buy now that the prices are low? I have always wanted a house too. WHat does the economy have to say about buying low right now. I have saved about ,000, so what do you think, down payment is ,000.

I have a house in Las Vegas that I can’t sell. It has been in the market for almost two years now and the value of the house has gone down K less than when I bought it. My mortgage is 00 a month and I have already paid more that K for the mortgage. Renting it out is not an option. I’m thinking of just letting it go into foreclosure. What is the worst thing that could happen other than ruining my credit? I don’t intend to buy another house; the house I’m living in is all paid for, my car is all paid for, I have about 10 credit cards to my name in good standing, and I have money in the bank, I just don’t want anything to do with this house anymore. Will I go to jail for letting the house go to foreclosure?

I’m upside down on my mortgage and lost my job. I would lose money if I rented out my unit because my mortgage would cost more than the rent compared to nearby condos.

I live in Nevada and all my family is on the east coast. Its very hard to sell my condo, what consequences could I face if I just walk away and move back to Florida?