As one of the hardest hit states by the foreclosure crisis, Nevada has had to up their efforts to protect homeowners and help spur recovery in the market. After several lawsuits were filed a few months ago, the cases have been tossed around between the courts.
Keeping It Local
Currently in the middle of several mortgage modification abuse lawsuits, Nevada officials have been working to keep the litigation proceedings at the state level. One of the biggest lawsuits, against Bank of America, was rejected by a lower court recently. Citing the case belonged at the federal level due to its class action nature, the Nevada court system was forced to file an appeal.
After much effort and help by the complainant the 9th U.S. Circuit Court of Appeals reversed the decision of the lower court, returning it to the state level. A three-judge panel for the appeals court heard the case and ruled that Nevada’s interest was too great to keep the case out of the state court. Now Nevada officials have their work cut out for them to obtain the right ruling and help redeem residents who were affected by the wrongdoings.