Apparently, the Nevada Attorney General is serious about upholding the law, defending the Constitution and protecting consumers. Meanwhile, back in Florida our Attorney General is chasing after the scourge that is TIMESHARE FRAUD!
Never mind about the nine (count ’em) nine investigations into FRAUDCLOSURE. In the State of Florida, our attorney general has gone completely radio silent on the issue which is tantamount to saying,
“Go ahead banks, have a field day. No penalties. Get out of jail free cards for everyone!”
But not every state…read what’s happening in a state where laws are enforced…..
Many mortgage servicers stopped initiating foreclosures in Nevada because of a new law, which carried threats of criminal penalties for faulty filings.
Assembly Bill 284 took effect Oct. 1, making it a felony if a mortgage servicer or trustee made false representations concerning a title. There also will be a $5,000 fine assessed if fraud, such as robo-signing, is detected. The new law requires servicers to provide a new affidavit that provides the amount due on the mortgage, who is in possession of the note and who has the authority to foreclose.