In the 36 months between March 2009 and March 2012, over 10,500 Trustee’s Deeds were issued in Washoe County alone. Based solely on population there were 4 or 5 times as many issued in Clark County in that same period. For those of you fortunate enough to find the jargon unfamiliar, a Trustee’s Deed is what is issued when a property is sold at a foreclosure auction.
When there are forty or fifty thousand completed foreclosures in Nevada in such a turbulent three-year period, the result is a lot of unhappy people, a lot of unhappy voters. And it comprises the single largest unaddressed voting block in the state. By and large these families have been–and continue to be–cast aside with no information, resources, or support.
Nullifying your Foreclosure
You probably know that over the past few years a growing number of foreclosures have been successfully stopped for reasons of invalid, false, or fraudulent activity by the lenders. What you may not know is that a small but growing number of foreclosures can be nullified due to those same reasons. When nullified, the foreclosure is found in court to be invalid, and ownership is restored to the person who was foreclosed. This has happened even after the property was sold at a foreclosure auction and in the possession of a new owner.
Nullification hasn’t happened yet in Nevada, but I believe it’s coming. It can be accomplished at little or no cost. If you have lost your home to foreclosure, or are about to, and want to know how these and other foreclosure survival tactics may benefit you, please email me at walttrauth[at]gmail.com.
Walt Trauth is a Reno resident and long-time real estate investor. In 2008, he began reaching out to the Northern Nevada community, providing education to homeowners on foreclosure survival tactics. Through exhaustive research, he has been able to connect potential foreclosure victims with the knowledge and resources necessary to fight back.