The first Nevada state court ruling on the federal Housing and Economic Recovery Act holds that a deed of trust owned by a GSE cannot be extinguished by a homeowners’ association’s foreclosure sale, a promising development for Fannie Mae, Freddie Mac, and lenders embroiled in quiet title cases with purchasers from HOA foreclosure sales. Specifically, on December 7, 2015, Judge Elissa Cadish of the Eighth Judicial District Court of Clark County ruled that an HOA foreclosure on a super-priority lien could not extinguish a deed of trust securing a debt owned by a Government-Sponsored Enterprise .

Foreclosure News

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