HENDERSON, Nev. - When Ken and Debbi Bryant moved into their Henderson home in 2005, they had big plans for the home and their future, including retirement.
"Unfortunately, that's not going to happen now, or at least it doesn't look like it's going to happen now," Ken Bryant said.
Health issues and a tanking economy are standing in the way of the Bryants' dreams. "We've done a lot of work on this place, and we just got to watch it all go away," Debbi Bryant said. "It's not fair."
The couple has been facing foreclosure for the past two years. The Bryants tried negotiating with their lender and attempted to modify their loan but have only reached dead ends. "It seems like we take one step forward and three steps back with them. So, we are not gaining. We are losing ground," Ken Bryant said.
The Bryants are just one of thousands of families facing foreclosure. While they've done everything to try to avoid it, some foreclosure experts say other struggling homeowners aren't doing enough. "A lot of people are ending up in foreclosure, because they are waiting for something to happen that isn't going to happen," said Citizens Home Advocacy President Mandy Peacock.
Experts say many homeowners are waiting too long for help from government programs or seeking assistance from less-than-reputable loan modification companies. That leads to a steady stream of foreclosures in Nevada. "There is still a slow and steady decline going on, and I think that we've still got a ways to go," Peacock said.
Experts advise homeowners to do their research and find the best options, which could include home loan modifications or short sales. Every situation, however, is different, and homeowner advocates urge homeowners to seek professional advice.
The Bryants, meanwhile, are holding out hope they can eventually modify their loan and reach an affordable payment. They hope they can stay in their home and continue down the road to retirement. "It's really hard when you plan on living the rest of your life somewhere, and, all of a sudden, it's not there anymore," Debbi Bryant said.
Real estate analysts predict Nevada is still at least a few years away from a housing recovery.
