NEVADA – Nevada lawmakers want to pare down HOA’s power in foreclosure
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:
Posted on May 30, 2015, in Uncategorized. Bookmark the permalink. Comments Off on NEVADA – Nevada lawmakers want to pare down HOA’s power in foreclosure.