LAS VEGAS -- Instead of quietly packing up and leaving, some Las Vegas residents are fighting back against foreclosure by speaking up and looking for solutions to prevent it. Hearing their concerns, Las Vegas City Councilman Steve Ross organized a meeting Friday with banks and lawmakers to bring residents relief.
Councilman Ross says he gets calls from people frustrated about the foreclosure crisis everyday. People want to prevent them and they're just getting frustrated and giving up on the process.
"You get referral after referral after referral. What that does is it builds this huge sense of mistrust. I don't know who to trust anymore. They don't have the answers, they can't help me," said homeowner Kevin Gouvea.
Gouvea is in danger of losing his home and says he has been struggling to find help the last 18-months. He has attempted to modify his loan so he can afford his house payments, but says he is just getting the run-around. And he's not alone.
Foreclosure experts say people in danger of foreclosure should contact non-profit agencies who are there to help file the necessary paperwork and guide you through the process. But the reality is, there is no guarantee their home can be saved.
"When you have housing prices that have dropped from the peak today by almost 60-percent, there's very little that can be done legislatively to preserve a lot of the homeowners," said John Restrepo with Restrepo Consulting Group.
Restrepo says the crisis is slowly getting better, but it will be a long, drawn out process.
Just as quickly as Nevada's economy boomed years ago, he says it burst bigger than many other places in the country. The reason? There aren't any jobs. The recession has hit the construction and gaming industries hard.
Banks say while it can be frustrating, homeowners need to stay on top of their situation and stay in touch with them. They offer monthly outreach meetings to help.
