Senator Delivers Keynote address to the Nevada Chapter of National Association of Hispanic Real Estate Professionals

March 19, 2008

 Las Vegas, NV – Nevada Senator Harry Reid delivered the keynote address to members of the Nevada chapter of National Association of Hispanic Real Estate Professionals.  

Reid’s remarks focused on the foreclosure crisis and its effects on our economy and Nevada’s working families.

“Nevada has one of the highest foreclosure rates in the nation.  In Las Vegas alone it has jumped an astonishing 200 percent,” said Reid.  “I am doing everything I can here in Nevada and back in Washington to bring an end to the crisis so we can stabilize our economy and keep working families in their homes.  We’ve made some good progress but there is still more to be done.”
 
Reid helped secure $180 million in the omnibus appropriations bill for foreclosure counseling.  He sponsored and led the passage of the Mortgage Cancellation Relief Act, which ensures that homeowners do not pay a tax penalty if they are able to work out a modification of their mortgage with lenders.  Under Reid’s leadership the Senate also passed the FHA Modernization Act, which will ensure that federally insured mortgages are available to first-time homebuyers and those who are refinancing their existing homes.  
 
In addition to sponsoring the Foreclosure Prevention Act, Reid organized Mobile Resource Centers across the state that have already helped connect more than 1,000 Nevadans with lenders, state and local agencies, and nonprofit organizations to help homeowners avoid going into foreclosure.