Reid, Industry Reach Out To Stem Foreclosures

Senator Harry Reid joined mortgage bankers and leaders of housing assistance agencies today in a new push to reach out with help for the skyrocketing number of Nevadans facing foreclosures.

Citing a 300 percent increase in foreclosures in Washoe, Douglas, Elko and Nye counties over the past two years, the Nevada Democrat also said at a news conference in Reno that the Bush administration should spend more on housing assistance and less on the war in Iraq.

Reid said industry leaders and nonprofit organizations are initiating a mobile resource center to help homeowners.

They also are setting up toll-free phone numbers for free advice to those in financial trouble.

The numbers are 1-800-451-4505 and 1-888-995-HOPE.

Kirk Clausen, regional president of Wells Fargo Nevada, says the last thing lenders want is to foreclose on homes.

He says there goal is to keep people in their homes.

Gail Burks, president of the Nevada Fair Housing Center, says too many people wait until the week or two before a foreclosure is scheduled to pursue alternatives.