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Forum Post: Nevada Foreclosure Fraud Stopped – As Soon As It Was Made A Felony

Posted 1 year ago on Aug. 12, 2012, 3:14 a.m. EST by CrepusculousRays (12)
This content is user submitted and not an official statement

Subject: GEE! DO YA THINK?? Nevada Foreclosure Fraud Stopped ??? As Soon As It Was Made A Felony?


Once Nevada made it a crime (a felony) to file fraudulent mortgage foreclosure paperwork with the courts, subject to 10 years in jail and fines of $10,000 per violation??? Foreclosures stopped.



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[-] 3 points by richardkentgates (3269) from Fort Walton Beach, FL 1 year ago

LMAO. WOW. Nevada got it right. Sweeeeeeeeeeeeeeeeeet!

[-] 2 points by Nevada1 (4464) 1 year ago

Good post. Just wondering, if NV AG Catherine Cortez Masto has any plans for the next eight years?

[-] 2 points by ZenDog (13713) from South Burlington, VT 1 year ago

I haven't read the article, but a very large number of the foreclosures are based on fraud, the banks don't have all the right paper work, and they have turned to robo signing to come up with it.

There was a thing on 60 minutes, google robo signing - it's crazy.

And it should be a felony.

[-] 2 points by jrhirsch (4714) from Sun City, CA 1 year ago

Good post. Too bad we didn't have this nationwide 4 years ago.

[-] 1 points by shooz (18066) 1 year ago

Kind of like a regulation, only more effective............:)

[-] 1 points by ChemLady (576) 1 year ago

It will certainly slow down foreclosures, maybe make the banks more willing to renegotiate loans. In the end though if someone can't repay what they borrowed they are still going to loose the home.