Nevada paralegal services,tenant coaching,tenant screening, background checks,eviction checks,landlord education, continuing education approved by the Nevada Real Estate Division, Landlord Tenant issues and foreclosure watch list. Is your landlord in Foreclosure??
Is a locally owned and operates as a one stop shop for landlords, property managers and investors. The services offered are property acquisition, tenant screening, background checks, landlord education, tenant coaching and a foreclosure watch list.
AN ACT relating to real property; revising provisions relating to a
notice of sale of real property under execution; establishing
the crime of defacing a notice of sale of real property under
execution or a notice of sale of real property pursuant to a
trustee’s power of sale; establishing rights and duties of a
purchaser of real property pursuant to a foreclosure sale and
establishing rights and duties of a tenant in possession of
such property; revising provisions relating to a sale of real
property pursuant to a trustee’s power of sale; requiring a
landlord to make certain disclosures to a prospective tenant;
and providing other matters properly relating thereto.
Finally bills have passed giving tenant's rights during a foreclosure. The trustee will have to give the tenant notice that the property they are renting is in foreclosure. Under new Nevada law effective October 1, 2009 tenant's are now given 60 days to vacate after the foreclosure. What a mess Nevada has gotten into.
The Nevada Attorney General's office says loan modification scams are topping all cases of housing fraud in Nevada.
This is why we use a local attorney licensed here in Nevada and knows Nevada Law! For more information on Loan Modifications you can contact us and we can give you the name and number of an Attorney to avoid the scams!
For others, ultimately the answers, the real strength that will lift us, may come from within ourselves, individually and collectively.
Real estate manager Laura Gamino sees full recovery a few years off, still she's irrepressivly upbeat. "If we stick together, work together as a community, keep our business local, we'll spring back."
Medical supply company owner Doug Bolton sees Americans turning to their own resilience. "If you fall down, you've got to get back up, keep going. That's all you can do. You can't give up. You've got to keep going and hope for the best. I think it's coming around. A year from now I think we'll be back on a good track."
Some common wisdom from some of your neighbors and food for thought on our nation's 233rd birthday. Happy Fourth of July.
Posted: 7:05 PM Jul 3, 2009 Last Updated: 7:12 PM Jul 3, 2009 Reporter: Ed Pearce
A home in Henderson is listed for auction in November. Legislation signed by Gov. Jim Gibbons is designed to avert more home losses by allowing homeowners facing foreclosure to demand mediation with their lenders. The program is expected to be available in mid-July.
This will be very important and loan Modifications will not be as necessary. It's time for the banks to open the door to help home owners dealing with the economy downturn. Gov. Jim Gibbons is finally helping by adding this. Let's hope that this helps and doesn't hurt any more homeowners! For the full story go to this link. http://www.lasvegassun.com/news/2009/jun/02/whos-holding-your-note/ Posted by Laura Gamino
A federal grand jury today returned a superseding indictment against a Las Vegas real estate broker and her husband who were charged in March with defrauding federally-insured financial institutions of millions of dollars.
The new charges allege that 31-year-old Eve Mazzarella and her husband, 45-year-old Steve Grimm, schemed to inflate housing values, using straw purchasers and limited liability companies, said Gregory A. Brower, U.S. Attorney for the Nevada district.
New charges include conspiracy to commit bank fraud, mail fraud, wire fraud and money laundering, 13 counts of bank fraud and criminal forfeiture. Mazzarrella is also charged with money laundering.
Four additional defendants, 28-year-old Melissa R. Beecroft, 46-year-old Christina R. Thompson, 33-year-old Amy R. Ortiz and 52-year-old Jyothi Panikkar, also known as Joe Panikkar, all loan officers and mortgage brokers in Las Vegas, are included in the superseding indictment.
They are charged with conspiracy to commit bank fraud, mail fraud, wire fraud and money laundering, various bank fraud counts and criminal forfeiture. Ortiz is also charged with assisting with providing fraudulent and false forms to the IRS.
Defendants Beecroft, Thompson, Ortiz and Panikkar were arrested in Las Vegas on Wednesday and are expected to make their initial court appearance today before U.S. Magistrate Judge Peggy A. Leen at 3 p.m.
Grimm and Mazarrella will be arraigned on new charges at 8:30 a.m. June 27.
Maximum penalties for conspiracy to commit bank fraud, mail fraud and wire fraud and for each bank fraud charge are 30 years in prison and a $1 million fine. The maximum penalties for conspiracy to commit money laundering and money laundering are 10 years in prison and a $250,000 fine. The maximum penalty for aiding and assisting with fraud and false statements is three years in prison and a $250,000 fine.
The investigation is ongoing by the FBI and the IRS Criminal Investigation team with assistance from state and local law enforcement authorities, Brower said.
Being a Realtor or a Lender it is important for us to always act in the most ethical fashion; we are held to a higher standard. Remember that there are many laws and legal consequences that a true professional must be aware of.
According to the Nevada Real Estate Division and Nevada Revised Statues.
Property Management means the physical, administrative or financial maintenance and management of real property, or the supervision of such activities for a fee commission or other compensation or valuable consideration, pursuant to a property management agreement. NRS 645.019.
Many tenants are confused by the difference between an individual who claims to be a property manager, and one who is licensed to do so in Nevada.
What actions may be taken if unlicensed property management activities are conducted which require a license?
It is unlawful for any person, limited-liability company, partnership, association or corporation to engage in the business of, act in the capacity of, advertise or assume to act as, a (a) Real estate broker, real estate broker-salesman or real estate salesman within the State of Nevada without first obtaining the appropriate license from the Real Estate Division as provided for in this chapter; and (b) Property manager within the State of Nevada without first obtaining from the Real Estate Division a license as a real estate broker, real estate broker-salesman or real estate salesman and a permit to engage in property management. NRS 645.230.
The Real Estate Commission may impose an administrative fine against any person who knowingly: (a) Engages or offers to engage in any activity for which a license, permit, certificate or registration or any type of authorization or any regulation if the person does not hold the required license, permit, certificate or registration or has not been given the required authorization; or (b) Assists or offers to assist another person to commit the above described violation.
The Real Estate Commission may impose an administrative fine for conducting unlicensed property management activity in an amount not to exceed the amount of any gain or economic benefit that the person derived from the violation or $5,000, whichever amount is greater. NRS 645.235.
If you are a tenant you can always check to see if your "property manager" is licensed to do property management. Often unlicensed property managers do not follow landlord tenant laws and you may become a victim if you don't know your rights. Consumer Beware!
This assembly bill makes various changes to provisions relating to foreclosures of real property. To see the full assembly bill click on the link: http://www.leg.state.nv.us/75th2009/Bills/AB/AB140.pdf Posted By: Laura Gamino
A.B. 140 - *AB140* ASSEMBLY BILL NO. 140–COMMITTEE ON COMMERCE AND LABOR (ON BEHALF OF THE LEGISLATIVE COMMISSION’S SUBCOMMITTEE TO STUDY MORTGAGE LENDING AND HOUSING ISSUES) FEBRUARY 6, 2009 ____________
AN ACT relating to real property; creating the Office of the Ombudsman for Foreclosures; revising provisions relating to a notice of sale of real property under execution; establishing the crime of defacing a notice of sale of real property under execution or a notice of sale of real property pursuant to a trustee’s power of sale; establishing rights and duties of a purchaser of real property pursuant to a foreclosure sale and establishing rights and duties of a tenant in possession of such property; revising provisions relating to a sale of real property pursuant to a trustee’s power of sale; requiring a landlord to make certain disclosures to a prospective tenant; and providing other matters properly relating thereto.
This bill is not enacted yet it was Introduced in the Assembly on Mar 06, 2009.
However if you are a landlord or property manager you should read this. This Bill will change the way a security deposit is handled. This question comes up in our class on a regular basis. We thought we would do some research into, what is going to be changes coming our way that will effect landlords, tenants, and property owner. Here is just the brief part of the bill in Senate.
SUMMARY—Makes various changes concerning foreclosures and security deposits.
Legislative Counsel’s Digest:
1 Existing law provides that after a foreclosure sale or trustee’s sale, the new 2 owner of real property or a mobile home may file an action to evict a tenant who 3 holds over and continues to stay in the property after a 3-day written notice to quit 4 has been served upon him. Section 1 of this bill allows the new owner to offer the 5 tenant a payment in exchange for vacating the property on a date earlier than the 6 date on which the tenant may be evicted. Section 1 also provides that such an offer, 7 if in writing, constitutes an offer of judgment. Thus, if the tenant refuses the offer 8 and does not obtain a more favorable judgment in an action to evict the tenant, the 9 tenant must pay certain costs incurred by the new owner. (NRS 40.215-40.425) 10 Section 2 of this bill revises existing law to require a landlord who receives a 11 security deposit from a tenant to place the security deposit in an escrow account 12 and disclose to the tenant the location of the security deposit and any change 13 thereof. (NRS 118A.242) Section 2 also provides certain penalties for a landlord 14 who fails to comply with these requirements.
This assembly bill makes various changes to provisions relating to foreclosures of real property. To see the full assembly bill click on the link: http://www.leg.state.nv.us/75th2009/Bills/AB/AB140.pdf
