NEVADA – Nevada lawmakers want to pare down HOA’s power in foreclosure

MYNEWS4.com:  Nevada lawmakers want to pare down HOA’s power in foreclosure
May 29, 2015
Associated Press

CARSON CITY, Nev. (AP) — Lawmakers who say a recent Nevada Supreme Court decision gives homeowners associations too much power to foreclose over unpaid dues are pushing a last-minute legislative fix.

Republican Assemblyman David Gardner is sponsoring AB359, which would change rules on so-called “super-priority liens.”

The high court ruled in September that unpaid HOA dues should not only be the first thing paid when a foreclosed home is sold, but that the mortgage itself can be wiped out in the process if a bank doesn’t pay the lien. Read more:

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