This press release indicates that 90% of the foreclosures clogging Nevada courts are fraudulent in their current form. Does this not say something to other states? Surely.
Finally, the TRUTH is clear. This proves that the fraud is pervasive enough to stop 90% of new foreclosures! If technical errors were all that is about, the new law would not have reduced new cases by 90%, as the NV law allows do overs for the lenders. Too bad the pretender lenders still are allowed to "correct" documents if the homeowners find something amiss. The do overs are the most frustrating part for me. I understand clerical errors being corrected, but when the plaintiff's evidence is changed only to avoid jail when the fraud is discovered by the defendant, that do over is unacceptable!
Homeowners in foreclosure simply want fairness in court. One home seized is one too many without the party entitled to enforce bringing the action.
All homeowners who are paying their payment should take note. Each borrower is OBLIGATED under the UCC to pay the party entitled to enforce, or else any payment made is not being discharged dollar for dollar against the debt. The only remedy available to such homeowner is an expensive lawsuit to recover his or her losses if the real party entitled to enforce comes forward and rightfully files a suit.