Win For Nevada Homeowners
A group of lobbyists, hired by some of the country’s largest banks, tried to convince the Nevada Legislature to reduce the homestead exemption from its current amount of $550,000. A homestead exemption is a statutory protection that exempts your primary residence from execution by your creditors. In Nevada, pursuant to N.R.S. 21.090, the homestead exemption […]
AB 273 Limits Bank Collections
The purchase of a house is the largest purchase most people will ever make. When hard times hit and a homeowner loses their house, the debt the homeowner still owes to the bank is the largest debt a person will ever have. After suffering a pay cut or the loss of a job and with […]
FTC Refunds Millions of Dollars to 450,000 Cheated Homeowners
Today, various news outlets have reported the Federal Trade Commission is issuing refund checks to homeowners that were overcharged by Countrywide Home Loans, Inc. These checks are a product of the FTC’s hefty settlement with Countrywide, which was made June of last year, after the FTC’s investigation uncovered severe inaccuracies in the Countrywide billings to […]
AB 284 Restores Foreclosure Process
I have been extraordinarily honored to have participated in a working group with the Nevada Attorney General’s Office in Nevada Assembly Bill 284. AB 284 passed the Assembly with a vote of 33-9, and passed the Senate with a vote of 20-1. AB 284 was signed into law on May 20, 2011 with overwhelming support […]
NV Supreme Court Strikes Blow to Banks for Homeowners
The Nevada Supreme Court recently addressed a critical issue involving the Foreclosure Mediation Rules in the case of Leyva v. National Default Servicing Corp., App. No. 55216, Appeal from the Clark Co. District Court, A-10-600-651, 127Nev. ___, ___ P.3d ___ (Adv. Op. No. 40, July 7, 2011). The issue relates to the obligation of the […]
New Nevada legislation to protect homeowners
Continuing update on new Nevada Legislation for homeowners. Did you know that banks, lenders, financial institutions and their employees cannot unreasonably delay a response to an offer for a sale in lieu of foreclosure sale on a residential property? A response that is not made within 90 days of the offer is presumptively unreasonable. Of […]
New Nevada Real Estate Laws Update
Black & LoBello has received numerous inquiries regarding the new real estate laws discussed in our previous blog post. We thank you for your patronage of our blog and for your interest in these exciting new protections for homeowners. Several inquiries have asked for clarification regarding the manner in which the new laws regarding holders […]
New Nevada Laws Relating to Homeowners
Nevada Assembly Bill 273 makes major improvements to Nevada law to protect homeowners by limiting the amount of money a bank can collect after a homeowner loses their home. The law also reduces the time a bank has to file a lawsuit against some homeowners. These protections will greatly improve a homeowner’s opportunity to start […]
Las Vegas Man To Be Jailed For Mortgage Fraud and Foreclosure Rescue Scam
A Las Vegas man was sentenced to 6 years and 9 months in prison for mortgage fraud and operating a mortgage foreclosure rescue scam that defrauded homeowners facing foreclosure. George Eggleston, 65, of Nexxus and Global Legal Associates claimed that his company could stop or reverse any pending or completed foreclosures with litigation. Eggleston bilked […]
10 Warning Signs of Mortgage Modification and Foreclosure Rescue Scams
“Pay us $1,000 now, and we’ll save your home.” Fees that are thousands of dollars and are to be paid up front or in partial payments are a sign of potential fraud. Companies cannot collect fees until you have a written, acceptable offer from your lender or servicer and a written description of the key […]