Reno homes for sale, Reno bank owned homes, Reno foreclosures thin with Nevada AB 284
Reno homes for sale, Reno Real Estate Seller’s Market heats up with Nevada AB 284
A Nevada Bill places
unfair burdens on trustees
Legislation in Nevada (AB 284, introduced by Assemblyman Conklin) that would directly change trustee activities in the state by placing many onerous burdens on all loan files referred to in foreclosure is on the fast track to passage as the bill has the support of both the Majority Leader and the State Attorney General. Among other things, the Bill would require: (1) mandatory recording of all assignments and the Substitution of Trustee prior to the Notice of Default; (2) recitation of recording information for all prior assignments and identification of the beneficiary, trustee, servicer and note holder authorized to foreclose in a notarized affidavit attached to the Notice of Default, and; (3) presumed statutory damage and attorney fee awards if a court finds non-compliance with the trustee’s statutory notice obligations.
Michelle Mierzwa, Esq., Cal-Western Reconveyance Corp. and Michael Brooks, Esq., Brooks Bauer, have taken the lead in working with the Attorney General’s office to modify language in the highly complex bill. Some language has already been removed and negotiations are ongoing. Mierzwa and Brooks will meet with the Majority Leader this week, as coordinated by UTA’s Nevada Lobbyist, Rocky Finseth.
Read a summary of AB 284
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Filed under: FORECLOSURE HELP, FORECLOSURES
