North Las Vegas moves forward with housing help plan
North Las Vegas Commissioners moved forward with a controversial plan to help struggling home owners.Photo: Video by ktnv.com
North Las Vegas, NV (KTNV) -- North Las Vegas commissioners moved forward with a controversial plan to help struggling homeowners.
The plan is to use eminent domain to buy mortgages from lenders and use a third party to give underwater homeowners better loans.
The plan would be voluntary.
But critics fear the legal ramifications would cost the city money.
Desperate North Las Vegas homeowners want the plan to pass.
The group behind the plan has 60 days to see if qualified homeowners would be interested in participating.
The city attorney will look into the legal issues surrounding the plan.