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Las Vegas Real Estate Steve Hawks Wall Street Journal Buy and BAIL

http://online.wsj.com/article/SB121314811278463077.html

Meanwhile, Mr. Hawks, the Las Vegas broker, says he receives one to two dozen inquiries every week from individuals inquiring about a buy-and-bail.

"People are starting to ask how much their good credit is worth,"

particularly when their home is underwater by hundreds of thousands of dollars.

Yet even in cases in which a lender could attach a lien on the new home, some homeowners simply assume that lenders are too swamped.

"So many people are foreclosing, is it cost effective for lenders to go after all of these people?" says Steve Hawks, a Las Vegas real-estate agent who handles lender-owned properties.