WatchSupreme Court gives banks foreclosure win
By Tim O'Reiley
LAS VEGAS REVIEW-JOURNAL
Posted: Oct. 1, 2012 | 2:04 a.m.
The Nevada Supreme Court has sided with banks by validating a key cog in the foreclosure enforcement machinery...all seven justices agreed that hundreds of thousands of home mortgages in the state involving the Mortgage Electronic Registration System Inc. could be put into foreclosure after technical adjustments.
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Laguna Beach, CA
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Nevada has 100,000+ homes in which the owner hasn't made a mortgage payment in at least 3 months.
Think about that for a moment.
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Huntington Beach, CA
Meanwhile, in California, a whole new set of road blocks will arrive January 1st with the Homeowner's Bill of Rights. How do people who haven't made a payment in a year or three have rights?
I no longer feel the slightest bit of sympathy for these delinquent home debtors. I spent the weekend moving my cousin from her rented home. She got a notice two months ago from a bank that told her they were foreclosing on her land lord and she had until the end of September to move. This was hard for her as she has horses and dogs and finding property to accommodate both is tough. The bank said not to pay the landlord any more rent as he had no legal right to it. She did, and the guy SUED her over 1.5months of rent! That's not including her deposit (one months rent) which he will probably decide to keep. The sheer audacity of these leeches just amazes me!
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Quigley says
LOL. LL does not want to pay the bank but wants rent? We have created too many laws in this country to unnecessarily lengthen the foreclosure process. Again,govt. has vested interest in doing that.
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Las Vegas, NV
Goran_K
100,000. I believe it.
I have to re-read all of APOCALYPSEFUCK is Shostakovich's posts to get prepared.
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Goran_K says
Yep, can't you "smell" the housing recovery now in NV!!! (smells like burned toast...)
So, how soon are you moving to NV.... I bet you're going to find some deals!!!
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Pleasanton, CA
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Call it Crazy says
It is good to know that all the wealthy families in Phoenix that are now priced out of a house have a place to land. You know, with that wicked 20-40% appreciation that is happening over there.
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Quigley says
The bank tried to pull that crap on me, I demanded a judges order for such a request. That was that!
I rented the same place from 1999 through 2010, went through three owners, all through out the bubble. Finally settled on the last winner, this Colombian lady, that believed Obama was going to rescue her any day now, so she stopped paying in January of 2009.
By the Spring of 2010 the bank's lawyer sent us a registered letter, I told them I would be glad to, if they could produce a letter from a judge requesting I do so. I never head back from them. But that was the straw that pushed us over the edge to start looking for a place. We were closed on a house by September 1st f 2010.
I don't know if she had money to eventually pay, or she actually got an adjustment, but the Colombian Lady is still there.