Homeowner Foreclosures on Bank of America (Yes, You Heard That Right)
In a modern-day evocation of David’s slingshot triumph over Goliath, a couple of foreclosed homeowners in Naples, Florida reportedly foreclosed on a Bank of America branch last week, their attorney actually having moving trucks pull up in front of a Naples branch to execute a foreclosure judgment against the bank. To read the full story, […]
Countrywide and Saxon Settle Wrongful Foreclosures Against Military Homeowners
Countrywide and Saxon, two home mortgage lenders, settled with the Department of Justice with regards to alleged violations of the Servicemembers Civil Relief Act (SCRA) for wrongfully foreclosing upon active duty servicemembers. The two lenders agreed to pay more than $22 million in monetary relief for the victims of their misconduct. The two lenders were accused […]
Government Programs and Principal Reductions
Treasury officials confirmed that the Administration was examining principal reduction as a tool in the modification arsenal. Shortly thereafter, Bank of America unveiled a principal reduction program for borrowers whose LTV ratios are more than 120% (which is a large percentage of Nevadans as approximately 62% of our market is thought to be underwater). Hopes […]
Double-Dip in Home Prices Nationwide
Today Case Shiller housing data confirmed that there is a double-dip in home prices nationwide. The National Index hit all new lows and is down 5.1% from last year. In March 2011, Las Vegas was amongst 12 cities (Atlanta, Charlotte, Chicago, Cleveland, Detroit, Las Vegas, Miami, Minneapolis, New York, Phoenix, Portland, Ore., and Tampa) that […]
LV Business Press Interviews Tisha Black Chernine
Bankers watch bill that would criminalize home trashing When bankers told Nevada lawmakers they wanted to punish home-wreckers, they weren’t talking about adulterers who destroy marriages. They were referring to legislation that makes it a crime for homeowners to damage and steal parts of houses subject to foreclosure. To read the full article, click here.
Nevada Still Highest Foreclosure Rate in Nation
RealtyTrac reported Nevada posted the nation’s highest foreclosure rate for the 52nd straight month with 1 in 97 housing units receiving a foreclosure notice in April. The 4,606 home repossessions were the highest number since RealtyTrac began tracking foreclosures in 2005 prior to the real estate collapse. April REOs outpaced March by 23% and April […]
MobileRJ interview with Tisha Black Chernine
Small drop in Nevada rate for troubled mortgages By John G. Edwards The percentage of residential mortgage loans that are delinquent in Nevada dropped a percentage point during the first quarter, but Nevada remains one of the country’s most troubled states for past-due mortgage loans and foreclosures, the Mortgage Bankers Association reported Thursday. The delinquency rate […]
AB284 Approved, Becomes Law
On May 20, 2011 Nevada Governor Brian Sandoval approved Assembly Bill 284 to be signed into law. AB 284 will help restore transparency and integrity to the foreclosure process. As previously reported, some of the changes enacted by AB284 are as follows: Defines who can act as a foreclosure trustee in the state of […]
AB284 Passes Senate
On May 11, 2011 the Nevada Senate passed Assembly Bill AB 284 with 20 Yeas and 1 Nay (see voting details below). AB 284, as we have reported: Defines who can act as a foreclosure trustee in the state of Nevada; Defines a standard of care for such trustee; Requires that all assignments or trust […]
Black & LoBello at the Las Vegas Chamber of Commerce
On May 11, 2011, JAM Properties International and The Bouchard Brothers held an investor event at the Las Vegas Chamber of Commerce in which Carlos L. McDade, Esq., took part in discussing Landlords, Tenants and Evictions.[nggallery id=jamcoc]