I’m no big fan of court decisions that favor big banks, in fact, I’m a bitter critic of some of the financial scams the big banks run. But the latest one in Nevada is no miscarriage of justice.
A lower Nevada court had ruled that investors in foreclosed HOA loans had a super-priority right to grab up a foreclosed house for a few thousand measly bucks, and cancel the loan the original mortgage company had given the homeowner. For a few thousand bucks you could just ignore the entity that loaned the original homeowner the half million it took to buy the home in the first place.
The U.S. Attorney won’t release documents in the Nevada organized crime/Mafia case against the state’s Homeowners Association industry, despite the fact that a judge on the Nevada Supreme Court tipped off a lawyer friend that the FBI was going to stage a series of raids on people connected with the HOA scam.
That lawyer shredded wheelbarrows full of documents before the FBI could get to them.
There is so much corruption in the world of Homeowners Associations. How can federal officials prove that they’re not just as corrupt as the 43 people they sent to prison? They can release the damned documents to the Las Vegas Review Journal! These are public records!
Nevada State laws are being twisted and used to allow illegal foreclosures by Homeowners associations. Women and Minorities are the main targets. Victims are tossed into the streets with 5 day notices. The victim is left to pay the mortgage payment. In the meantime, potential investors are able to walk inside the county recorder’s office and record his or her name as the true owners. The investor buys the property, sometimes for as little as 10% of its true value.
A Response To Her Recent Attack On Jonathan Friedrich
guest blog by Jonathan Friedrich
Ms Holland presumes she is the ”Queen Bee” of all community managers in the Las Vegas area.
First a few facts about Ms. Holland:
The column that she posts each week in the Review Journal SHE PAYS FOR. She is not a columnist working for the newspaper. If you observe near the very top of the page under the “Real Estate” banner the words “promotional section” are printed. This is another way of saying this is an advertisement!
I would have made a rotten fiction writer. Just about the time I dreamed up the wildest possible plot, some actual news story would break that wrecked my work of fiction. And Ladies & Gents? It’s happened again and this one’s a whopper. But it’s all true.
This month, the U.S. Attorney is scheduled to go to trial in one of the biggest public corruption cases in history. Thirty crooks have already pleaded guilty. And they’ll be testifying against nine of their former friends in the HOA corruption case. Organized crime involving racketeering, money laundering, mail fraud, election fraud and about fifty other federal charges. There are even some hints about connections with a Mexican drug cartel! The bad guys are police officials, attorneys, politicians, a TV star, well-known public figures.