Vlog answers questions about the document submission process
David Gorka, head of Black & LoBello’s Submission and Processing department, answers some common questions clients have regarding the document submission process when dealing with a short sale and the lenders involved.
Report Indicates Nevadans are “Walking Away” From Distressed Properties
The Nevada Association of Realtors (hereinafter “NVAR”) recently released a report entitled “Face of Foreclosure.” This report paints a rather grim picture. It reports that more than 20% of Nevada homeowners have strategically defaulted and allowed a foreclosure to occur rather than pursuing other alternatives. The NVAR report explored the reason that people went to […]
Foreclosure Outlook 2011
The outlook for the New Year is grim if you own a home in Las Vegas and are not paying attention to your legal rights. Likely, you are one of the two-thirds of our valley’s property owners who are in an underwater position, most being more than 50%. Since property values are expected to drop […]
Default Servicers, Foreclosure and the Securitization Debacle
On November 16, 2010, the Senate Committee on Banking Housing and Urban Affairs held a hearing on Mortgage Services and Foreclosure Practices which included, Bank of America, among other lending institutions, along with consumer advocates and academics. Coincidentally, the Congressional Oversight Panel has recently produced a 127-page report, “Examining the Consequences of Mortgage Irregularities for Financial […]
LVRJ Article: Judge halts capping of ‘super priority’ foreclosure liens
District Court Judge Susan Johnson on Thursday issued a temporary restraining order against enforcement of a state regulatory advisory opinion that caps the amount collection agencies may charge under “super priority” liens against homes in foreclosure. To read the full article click here.
Nevada Probate Basics
Christopher J. Phillips, Esq., explains when a probate is required in the state of Nevada.
Private Mortgage Insurance Provides Woes for Lenders and Consumers Alike
When one hears the word “insurance,” you automatically think you are “covered” from any and all “qualified” loss that exists under the umbrella of that coverage. Unfortunately, that does not appear to be true as all types of insurance from medical to long term disability have been the subject of movies and articles slamming the […]
Tisha Black Chernine, Esq. on AM720 KDWN
Tisha Black Chernine, Esq. speaks on the Heidi Harris Show about mortgages that could be “frozen” by the government and the process of loan modification. Click here to hear the audio clip.
Nevada’s Support Statute For Spouses & Minor Children
The Nevada Legislature has enacted a very powerful statute designed to provide support to surviving spouses and minor children when the gross estate is less than $100,000 (after deducting encumbrances) and avoid paying most, if not all creditors. NRS 146.070 provides that if a person dies with a spouse and no children, leaving a gross […]
Asset Protection from Bankruptcy
As part of an asset protection plan, people may place certain assets into a single member limited liability company (LLC) with the belief that these assets are protected from individual creditors. However, in the bankruptcy context, a single member LLC will not provide any asset protection for a person from their individual creditors. In multiple […]