Housing Market May Be Rebounding
LAS VEGAS -- As more people are finding new jobs, the housing market is getting a boost. Nationally, the number of people behind on their mortgage payments has dropped for the first time in four years.
Across the country, homeowners are finally starting to catch up with payments and experts say Las Vegas is improving as well.
"In the last 18 months, people have been faced with either, 'You make your mortgage payment or we take your house,' and a lot of people say, 'Ok, take my house because the mortgage is twice what the value is,' and that is starting to stop," said mortgage expert Roger Rothberg.
Thanks to some improvements in the job market, people are now catching up with payments. Those who can't afford the homes they're in have let them go, giving the battered housing market a chance to heal.