Nevada has held the number one spot in state foreclosure rankings for 56 consecutive months. In fact, for the month of August, RealtyTrac reports one in every 118 Nevada homes received a foreclosure filing. While foreclosures cannot always be prevented, the state is taking steps to protect homeowners facing foreclosure. A new “Foreclosure Fraud Reform” law will go into effect October 1. It lays out new rules for the recording of foreclosure documents and mandates the foreclosing party prove chain of title.
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