AB 284 Starts October 1, 2011

Assembly Bill 284, called the “Foreclosure Reform Law”, goes into effect tomorrow, October 1, 2011. Tisha Black Chernine participated in a working group along with Nevada Attorney General Catherine Cortez Masto and Nevada Assembly Majority Leader Marcus Conklin in order to give Nevada residents critical information regarding foreclosure and create transparency in the process. All Notices of Default filed after September 30, 2011 are required to be accompanied by an “Affidavit of Authority.” In addition, the law provides a private right of action for consumers which includes a mandatory $5,000 fine and attorneys fees for any victim of foreclosure fraud. For a copy of the Affidavit of Authority form suggested to be used by foreclosure trustees in the state of Nevada, click here.