Mortgage Industry Scores Big Nevada Supreme Court Win in Continued Battle over HOA Super-Priority Liens
The mortgage lending community was dealt a serious blow in September 2014, when the Nevada Supreme Court held that an HOA’s foreclosure of its nominal super-priority lien could extinguish a first lien interest in SFR Investments Pool 1, LLC v. U.S. Bank, N.A. This decision potentially rendered hundreds of millions of dollars in secured loans unsecured in the blink of an eye. Read the article………..
Between 2010 and 2014, loan servicers and Investors in Nevada had thousands of liens potentially wiped out by HOA foreclosures.
A vote for Proposition 206 is a vote to increase your Home Owner’s Association (HOA) dues by five to 10