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Court ruling seen as clarification for foreclosures market

A major opinion issued recently by the Nevada Supreme Court regarding super priority liens filed by homeowners associations is a positive development for Nevada because it has clarified many of the legal issues for everyone involved in the foreclosure market, an official with the company that won the ruling said Tuesday.

Notices of default jump 128 percent in Nevada

Lenders filed 1,037 notices of default to start foreclosure proceedings in July, up 128 percent from July 2013, RealtyTrac reported. It’s the highest number of starts since October, when the state’s Homeowners Bill of Rights took effect and put new restrictions on banks looking to foreclose.