X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWPORT BEACH, CA—Homeowners associations celebrated a legal victory in the Nevada Supreme Court last month when it was decided that that HOAs were allowed to foreclose on homes and then sell them for pennies on the dollar to recoup delinquent payments rather than waiting years for lenders to foreclose on the homes themselves. According to an article in the Wall Street Journal, the Mortgage Bankers Association has claimed that mortgage lenders could lose as much as billions of dollars in security interests by this practice, but Michael Meyer, managing principal of locally based investment-management firm TwinRock Partners, says these fears are unfounded and that the ruling is a good thing for all involved.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.