SellingNorthernNV

Quality Real Estate News and Market Data

Nevada benefits from the AG and Bank of America Settlement

Josh Talayka | July 18, 2012

Early this year (2012), five of the largest mortgage servicers (Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally) entered into a $25 Billion settlement with the Attorney Generals from 49 states (Oklahoma is the only state that didn’t participate).
In addition to the $25 Billion National Settlement, Nevada’s AG was able to negotiate an additional $780 Million agreement with Bank of America.

Sparks, NV – Business License required for some Real Estate investors

Josh Talayka | July 9, 2012

Before you decide to purchase property or lease out your existing property within the City of Sparks, be aware that you may be required to obtain a City of Sparks Business License.

Foreclosure Timeline, Consequences, and other Options in Nevada

Josh Talayka | June 3, 2011

Although a foreclosure may be done outside of court, the lender must still adhere to very specific procedures and timeframes that are defined by law. Once all the timeframes and requirements above have been met, the lender may carry out their foreclosure sale (Trustee’s Sale). Following the foreclosure, the lender may still be able to sue the borrower for any deficiency in the amount received from the trustee’s sale.