CARSON CITY — A bill governing homeowners associations moved forward Friday after weeks of fierce debate over runaway collection fees involving overdue payments.
Housing
LOS ANGELES — Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year and contributed to a sharp drop in properties entering the foreclosure process.
The new census numbers say Las Vegas is practically a ghost town. When the housing bubble blew and the economy sank, thousands of Southern Nevadans pulled up stakes and abandoned their homes, leaving one in seven houses a vacant shell.
Mortgage lenders who try to foreclose on distressed Nevada homeowners received a message Tuesday when the Nevada Supreme Court heard a trio of appeals related to its Foreclosure Mediation Program: Follow the rules or suffer the consequences. A majority of justices expressed growing frustration and even anger with lenders who don’t participate in good faith.
CARSON CITY — A proposal in the state Legislature would allow Nevadans to walk away from their houses after a foreclosure or short sale without getting sued to repay the balance owed, even if they refinanced the property to buy cars, pay off credit cards, send kids to college or otherwise spend their home equity.
A bill before the Nevada Legislature would make it a felony to intentionally damage or remove any part of a home that the occupant knew was in foreclosure. A homeowner or renter who breaks the law could face one to four years in prison and up to $5,000 in fines.
