The hang-up over so-called foreclosure "robo-signers" is definitely cause for anxiety, but it hasn't stopped investor from plummeting their cash into low-priced Las Vegas homes that throw off a comparatively high rate of return, real estate sources said.
Major lenders such as Bank of America, GMAC and JP Morgan Chase halted the foreclosure process in 23 states after illegalities were found in certification official procedure, thereby "clouding" possession titles for homes taken back by the banks.
Las Vegas real estate sponsor Kevin Kelly doesn't see it as an issue. He's been exchange single-family homes during the past year at trustee sales for $80,000 to $150,000, investment them and reselling for a profit.
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