Potential felony charges make servicers pause Nevada foreclosures

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California, Colorado, Nevada, and Minnesota have each passed a Homeowner Bill of Rights that prohibits the dual tracking of foreclosures. This means servicers generally must make a decision to grant or deny a (typically) first-lien loss mitigation application before starting or continuing the foreclosure process. You must submit your application by a certain deadline to get protection from foreclosure under these laws.

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As Ground Zero of the country’s foreclosure crisis, Nevada has inevitably seen a rise in foreclosure fraud. A conviction carries fines, incarceration, and it may threaten the defendant’s professional prospects. In this article our Las Vegas criminal defense attorneys describe the Nevada crime of foreclosure fraud.

Many mortgage servicers stopped initiating foreclosures in Nevada because of a new law, which carried threats of criminal penalties for faulty filings. potential felony charges make servicers.

California, Nevada, and Minnesota have each passed a Homeowner Bill of Rights that prohibits the dual tracking of foreclosures. This means that, under state law, mortgage servicers must either grant or deny a first-lien loss mitigation application before beginning or continuing the foreclosure process.

Urban Institute: 3 predictions for mortgage lending Low to moderate credit borrowers are getting boxed out of mortgage lending When we estimated the number of missing loans from 2009 to 2013, we found that beyond just the 4 million missing loans overall, the number of loans missing had grown enormously each year, with over 1.2 million loans missing in 2013 alone.

Potential felony charges make servicers pause nevada foreclosures. Many mortgage servicers stopped initiating foreclosures in Nevada because of a new law, which carried threats of criminal penalties for faulty filings. Assembly Bill 284 took effect Oct. 1, making it a felony if a mortgage servicer or trustee made false representations concerning a title.

 · Laurie Roberts’ Columns & Blog Laurie Roberts is a columnist for The Arizona Republic. Who will protect ailing lady who gave her house away? We pause briefly in our ponderings about Pinal County Sheriff Paul Babeu’s sex life to consider a case equally shocking (though far less titillating).