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Nevada Bill Makes Foreclosure Willful Damage a Felony
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You're Now Reading:
Nevada Bill Makes Foreclosure Willful Damage a Felony
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Nevada Bill Makes Foreclosure Willful Damage a Felony
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March 2, 2011 (Chris Moore)
mortgage-strippedhome-image
Nevada Republican Assemblymember Peter Goicoechea has introduced legislation in the State Assembly that would make it a felony to willfully damage a home during the foreclosure process. The bill has been referred to the state judiciary committee.

AB373 was introduced by Goicoechea yesterday and states, “This bill provides that a person in possession of real property who, under certain circumstances, willfully removes damages or destroys any real property that is subject to foreclosure or any other action affecting the title or possession of the real property is guilty of a category E felony.”

Damaged property has been a major concern for banks holding these properties, the real estate agents charged with reselling them and neighbors forced to live next to them. Some homes have been virtually stripped of almost all contents including windows, bathrooms, appliances, and even whole kitchens.

I have witnessed myself on Craigslist in Orange County, California, where I live, people selling whole kitchens (you remove), air conditioners, and even outdoor fountains and other hardscape while their homes were in foreclosure.

In the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, the proportion of move-in ready foreclosed properties or real estate owned properties was a low 15.4% in February. That’s a lot of homes in need of repair.

Nevada has held the highest foreclosure rate of any state for more than four years. There, one in every 119 homes received a filing in February, according to RealtyTrac. Realtors have described some cities as littered with gutted properties with storage units throughout the city filled with stolen appliances.

In June of last year, Fannie Mae joined the fight by sifting through loan data to hold strategic defaulters accountable. Borrowers who were shown to have willfully damaged their properties would then be charged for any repairs to the damaged homes.

Tags: Nevada, AB373, Peter Goicoechea, willful damage, foreclosure, damaged property, REO, gutted properties, strategic defaulters

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Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Calculator
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Rates

March 2, 2011 (Chris Moore)
mortgage-strippedhome-image
Nevada Republican Assemblymember Peter Goicoechea has introduced legislation in the State Assembly that would make it a felony to willfully damage a home during the foreclosure process. The bill has been referred to the state judiciary committee.

AB373 was introduced by Goicoechea yesterday and states, “This bill provides that a person in possession of real property who, under certain circumstances, willfully removes damages or destroys any real property that is subject to foreclosure or any other action affecting the title or possession of the real property is guilty of a category E felony.”

Damaged property has been a major concern for banks holding these properties, the real estate agents charged with reselling them and neighbors forced to live next to them. Some homes have been virtually stripped of almost all contents including windows, bathrooms, appliances, and even whole kitchens.

I have witnessed myself on Craigslist in Orange County, California, where I live, people selling whole kitchens (you remove), air conditioners, and even outdoor fountains and other hardscape while their homes were in foreclosure.

In the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, the proportion of move-in ready foreclosed properties or real estate owned properties was a low 15.4% in February. That’s a lot of homes in need of repair.

Nevada has held the highest foreclosure rate of any state for more than four years. There, one in every 119 homes received a filing in February, according to RealtyTrac. Realtors have described some cities as littered with gutted properties with storage units throughout the city filled with stolen appliances.

In June of last year, Fannie Mae joined the fight by sifting through loan data to hold strategic defaulters accountable. Borrowers who were shown to have willfully damaged their properties would then be charged for any repairs to the damaged homes.

Tags: Nevada, AB373, Peter Goicoechea, willful damage, foreclosure, damaged property, REO, gutted properties, strategic defaulters

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

March 2, 2011 (Chris Moore)
mortgage-strippedhome-image
Nevada Republican Assemblymember Peter Goicoechea has introduced legislation in the State Assembly that would make it a felony to willfully damage a home during the foreclosure process. The bill has been referred to the state judiciary committee.

AB373 was introduced by Goicoechea yesterday and states, “This bill provides that a person in possession of real property who, under certain circumstances, willfully removes damages or destroys any real property that is subject to foreclosure or any other action affecting the title or possession of the real property is guilty of a category E felony.”

Damaged property has been a major concern for banks holding these properties, the real estate agents charged with reselling them and neighbors forced to live next to them. Some homes have been virtually stripped of almost all contents including windows, bathrooms, appliances, and even whole kitchens.

I have witnessed myself on Craigslist in Orange County, California, where I live, people selling whole kitchens (you remove), air conditioners, and even outdoor fountains and other hardscape while their homes were in foreclosure.

In the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, the proportion of move-in ready foreclosed properties or real estate owned properties was a low 15.4% in February. That’s a lot of homes in need of repair.

Nevada has held the highest foreclosure rate of any state for more than four years. There, one in every 119 homes received a filing in February, according to RealtyTrac. Realtors have described some cities as littered with gutted properties with storage units throughout the city filled with stolen appliances.

In June of last year, Fannie Mae joined the fight by sifting through loan data to hold strategic defaulters accountable. Borrowers who were shown to have willfully damaged their properties would then be charged for any repairs to the damaged homes.

Tags: Nevada, AB373, Peter Goicoechea, willful damage, foreclosure, damaged property, REO, gutted properties, strategic defaulters

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.