If you own a home with a mortgage, you already know one type of lien: your mortgage. However, there are other types of liens that can be placed on homes, such as HOA assessment liens. Nevada recently changed its laws regarding HOA assessment liens, and it’s made a huge difference. Read the article…………
In a September 2014 ruling, the Nevada Supreme Court jolted the lending community by holding that a homeowners association’s (HOA) non-judicial foreclosure sale can extinguish a mortgage lender’s previously-recorded first deed of trust on a property if that foreclosure is to recover assessments categorized as super priority amounts Read the article……….
The Nevada Supreme Court held in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A. that a non-judicial foreclosure by an HOA generally extinguishes a first mortgage interest, however, it left several unresolved issues. Read the article………….
On January 28, 2016, the Nevada Supreme Court issued another HOA-related opinion that could have provided much needed clarity to the pending litigation, especially with respect to the issue of what charges constitute the HOA’s “assessment lien” under Nevada law. Read the article………….
Alfred M. Pollard, general counsel for the Federal Housing Finance Agency (FHFA), testified on Tuesday before the Nevada State Legislature Judiciary Committee on so-called “super-priority liens” and on recently introduced legislation to amend the way the foreclosure process is handled with regards to a homeowner association (HOA)’s lien. Read the article……….
A recent case in Las Vegas has set a new bar for the heights to which criminals will go in their efforts to defraud condo associations and HOAs for contracts worth millions of dollars. A U.S. Justice Department investigation revealed that 11 homeowners and condominium associations in Las Vegas were defrauded of millions of dollars […]
Lawmakers who say they’re tired of deciding landscaping, parking and trash can disputes are trying to delegate homeowner association legislation to a more local level. Republican Assemblyman Ira Hansen presented AB233 on Thursday. The bill would remove the chapter of Nevada law that governs common-interest communities and push regulation to a lower level, such as […]