Do we need foreclosure courts in Nevada?


There are too many cases filed everyday in the courts in Nevada about wrongful foreclosure, temporary injunction concerning forelcosure. It is almost blocking and taking the precious time from our judicial systems to adjudicate the complex foreclosure cases. Meanwhile all the parties including homeowners, lenders and other involved stays in a state of limbo unless the judge decides on these cases. We have Business Courts, Landlord-Tenant Court and of course Construction Defects courts. Nevada legislators needs to seriously think about establishing foreclosure courts. However, Florida has answer to this by especially making Foreclosures Courts separate and apart from their judicial system.

There are too many cases filed everyday in the courts in Nevada about wrongful foreclosure, temporary injunction concerning forelcosure. It is almost blocking and taking the precious time from our judicial systems to adjudicate the complex foreclosure cases. Meanwhile all the parties including homeowners, lenders and other involved stays in a state of limbo unless the judge decides on these cases. We have Business Courts, Landlord-Tenant Court and of course Construction Defects courts. Nevada legislators needs to seriously think about establishing foreclosure courts. However, Florida has answer to this by especially making Foreclosures Courts separate and apart from their judicial system.

To be sure, adjudicating foreclosure cases is difficult, complicated by multiple transfers of mortgages and notes when a loan is sold, bewildering paperwork submitted by loan servicers and shoddy record-keeping by the many institutions that touched the mortgages during the byzantine securitization process that fueled the housing boom.

http://www.nytimes.com/2010/09/05/business/05house.html?ref=foreclosures