Nevada Announces New 'Foreclosure Fraud Reform' Law
www.dsnews.com
http://www.dsnews.com/articles/nevada-announces-new-foreclosure-fraud-reform-law-2011-09-29
I think this will be a double edged sword and possibly hurt more folks than it actually helps. There are so many people already that miss the opportunity to Short Sale either because of misinformation or just not doing anything at all about their mortgage situation. Now, once homeowners get the word that there is a chance of the bank not being able to foreclose on them, they will wait and stall until the very last moment thinking that there is a way for them to stay in their home. However, by then the bank will produce all necessary paperwork and the option to Short Sale will be lost because there won't be enough time and the property will end up being foreclosed on anyway.
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