Author: nevadahomepro Added: Wed, 25 Jun 2008 12:44:49 -0800 Duration: 620Home owners across the country are starting to realize that in many cases, the value of their home is not going to recover in time to refinance out of their adjustable rate mortgage. Homeowners were told by the lender they would be able to refinance their home when their has adjusted. What many lenders failed to tell the homeowner is they would only be able to refinance if the home value goes up. Now home owners who will not be able to make the new payment are looking for alternatives to remain homeowners. Some are choosing to "Buy and Bail" as the media has called it.The home owners who were given a bad loan are now giving their house back to the bank, but only after they get a good loan on a similar house for half the price. Las Vegas leading consumer advocates and Realtors Kendall Trotter and Steve Hawks discuss this recent homeowner phenomena and possible repercussions.
