UPDATE: Nevada HOA liens do not supersede first mortgages
By Robert Adams, Real Estate Broker in NV, MA, & RI
(Broker at The Adams Team at Rothwell Gornt Companies in Las Vegas & Sankey Real Estate in MA)
I know there has been a lot of discussion about the HOA foreclosures in NV since the 2014 ruling. I received this update on this issue from one of our hard money lenders today and thought I would share it with our readers. Please feel free to add your thoughts."Dear Robert,Court of Appeals rules that Nevada HOA liens do not supersede first mortgages Older version of state's laws ruled unconstitutionalMortgage lenders and investors needn’t worry about whether a homeowners’ association super lien will be given priority over a first mortgage in the state of Nevada, at least for now. According to an alert published Monday by Ballard Spahr, the Ninth Circuit Court Appeals ruled last week that an older version of Nevada’s laws, which previously gave super-priority status to HOA liens, is unco...
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