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NEVADA: NEW LAW EFFECTIVE OCTOBER 1: FORECLOSURE FRAUD REFORM

Posted at October 3, 2011 // Effective, foreclosure, FRAUD, Home, NEVADA, OCTOBER, REFORM

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NEVADA NEW ‘FORECLOSURE FRAUD REFORM’ BILL TO TAKE EFFECT OCTOBER 1

EDITOR’S COMMENT: One small step for mankind…. Requiring them to record any document relied upon in the chain of title to demonstrate their right to foreclose will not stop them, although it could slow them up a bit. The real piece here is the requirement of an affidavit, which is sworn under oath and establishes, with exhibits that the pretender is the party who can and should foreclose.

Who is going to sign it? With criminal charges pending against Wells Fargo and whistle-blowers headed for law enforcement to make deals, it seems unlikely that anyone will. But who knows? Upper management will never sign the affidavits unless they are sanitized to say virtually nothing, which then will put at issue whether the affidavit is sufficient. The lower paid robo-workers are not likely to do it unless they don’t realize what they are signing.

I think the most important part of this legislation is that it takes a baby step toward legislative mandate and recognition that something is going wrong in the courts and that Judges are going to at least notice that this happened. The real issue is shame —- those who feel it and those who cause it. Deep down most people seem to feel that they owe the money so they should lose their homes. They admit the default and they admit the payments were not made when in fact they have no idea whether or not the payments were made to the real creditor or if there is any creditor now because they were paid off.

I was explaining this yesterday and I used this analogy. Maybe this will help those who are being accused of seeking a free house when in fact they are seeking to protect their homes from thieves. If John  Smith snatches a woman’s purse in crowded jostling parking lot and then loans the money from the bag to you, who do you want to pay? Would you admit that you took the loan and agree to pay the criminal, John Smith, or would you say, wait, unless I know the money is going to the woman whose purse was snatched I’m not paying anything to reward the thief for his crime!

STOP THINKING YOU DID SOMETHING WRONG. YOU DIDN’T STEAL THE PURSE (I.E., THE MONEY FROM THE PENSION FUNDS) WALL STREET DID IT. AND YOU ARE A PERSON OF DIGNITY AND POWER TO DECIDE WHETHER WALL STREET GETS AWAY WITH SNATCHING THE PURSE. FIGHT ON!

NEVADA NEW ‘FORECLOSURE FRAUD REFORM’ BILL TO TAKE EFFECT OCTOBER 1Catherine Cortez Masto, Attorney General
555 E. Washington Avenue, Suite 3900
Las Vegas, Nevada 89101
Telephone – (702) 486-3420
Fax – (702) 486-3283
Web – http://ag.state.nv.us

FOR IMMEDIATE RELEASE
DATE: September 29, 2011

Contact: Jennifer López
702-486-3782

ATTORNEY GENERAL CORTEZ MASTO AND ASSEMBLY MAJORITY LEADER
CONKLIN ANNOUNCE NEW ‘FORECLOSURE FRAUD REFORM’ BILL TO TAKE
EFFECT OCTOBER 1

Las Vegas, NV – Nevada Attorney General Catherine Cortez Masto and Nevada Assembly Majority
Leader Marcus Conklin announced that the new ‘Foreclosure Fraud Reform’ law will take effect on
October 1, 2011.

“This new law helps protect Nevadans from improper foreclosures and protects the integrity of the
system for homeowners,” said Cortez Masto. “I was pleased to work with Majority Leader Conklin on
this important bill that creates security, legitimacy, and transparency in the foreclosure process.
Assembly Bill 284 will protect the Silver State’s housing market by ensuring homeowners and
prospective purchasers can get a clean chain of title and are treated more fairly.”

“There have been widespread instances of foreclosures based on false, improper or incomplete
documents throughout the nation over the past few years,” Conklin said. “This new law is part of our
ongoing commitment to prevent foreclosure fraud in our state and to ensure that the Attorney General
has the tools necessary to prosecute those who defraud homeowners.”

The bill gives Nevada residents access to information on the companies that hold their mortgages by
requiring the documents used in the foreclosure process to be recorded in the county where the
property is located. Additionally, the legislation requires a party seeking to foreclose in Nevada to
record a notarized Affidavit of Authority to Foreclose that includes information showing that the party
seeking to foreclose on the property has the legal right to exercise the power of sale. AB 284 also
strengthens the Attorney General’s enforcement authority over foreclosure fraud, and gives property
owners a new right of action to enforce their own legal rights in foreclosures.

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www.StopForeclosureFraud.com

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Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: AB 284, affidavit, Assembly, bankruptcy, borrower, Catherine Cortez Masto, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure fraud, foreclosure offense, foreclosures, fraud, HB 284, LOAN MODIFICATION, Marcus Conklin, modification, Nevada, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
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Effective Matters To Acknowledge Regarding Chapter 13 Bankruptcy

Posted at September 4, 2011 // Acknowledge, Bankruptcy, Chapter, Effective, Home, Matters, Regarding

Effective Matters To Acknowledge Regarding Chapter 13 Bankruptcy

Article by Mikey Derik

In the situation you are a firm looking for refuge from several bills you cannot get rid of you may turn to the Section 13 bankruptcy. Knowing this, there are some tricks you are to know whenever choosing this method. You are going to be capable of tell the 2 types of bankruptcies aside after you investigate the article. You are also likely to get some advice on when is the suitable moments to apply for Chapter 13 and not otherwise.

Differences plus commonalities are to be noted between the 2 types of bankruptcies. Debts that are still active will be deleted just in case you successfully implement the Chapter 7. This implies that in this instance you, in the form of firm or even particular will have a chance for just a clean start.

Time is needed in the event you pick Chapter 13. A total up to five years are going to be necessary. An easy transaction approach will be almost all it requires for you to go beyond the several predicaments and difficulties. It is much like the month-to-month customer rates, just you will pay your financial situation this way. Debts will be viewed as surpassed as soon as this settlement time passed.

There are certainly few cases that the Chapter 13 bankruptcies have been acknowledged and also completed. This is why a few declare that when you go for this type of strategy, you are not going to succeed. It is suggested that this form of consumer bankruptcy be filed in some situations.

A unique means check is to be employed once you select Chapter 7 and also have an excellent method of obtaining income. The process really claims that you have simply no way to respect the financial obligations on the present-day monetary situation. An important level of acceptance exists to those that in fact present reduced or medium profits at the most. On the other hand, if you receive more you are likely to be turned down.

An option to make it through with the home finance loan and credit rating restructuring is by submitting for bankruptcy. You will be able to keep the residence and loose additional mortgage. Credit restructuring is just for the household clientele, which means your organization will have to turn to consumer bankruptcy just to save all the excess properties. Investment and property are going to be secure from creditors.

There are also a few other components that cannot be covered from loan companies in case of Chapter 7 bankruptcy. As you file, you are allowed to keep an automobile worth around 15000 bucks. This is not a clever choice if you happen to own old-fashioned cars.

The situations shown above supply very good alternative as you find yourselves in a limited spot. It could symbolize the best option available. It has the benefit of an opportunity to keep a few stuff as they are secure from the creditors. You may also buy them back. The car will not be reclaimed just in case it fulfills some conditions. As it is the circumstance with any type of individual bankruptcy, you must do a little study and also seek authorized advising to make sure things will go smooth.

The best option for some individuals looking for debt relief is Chapter 13 Bankruptcy, sometimes it’s the only option left. But, before selecting, every one shoud study all the Chapter 13 Bankruptcy Information they can get so they are educated about possible cautions.










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