California research firm RealtyTrac found that Nevada is third in the nation for default activity, continuing a years-long run of appearances in the top five.
However, there are indications that banks are ready to begin tackling default inventories, which would finally start the Nevada housing market’s climb back to normalcy.
RealtyTrac reported that lenders filed 1,037 notices of default to start foreclosure proceedings in July, up 128 percent from the figures for July 2013. 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. Read the full article in the Nevada Review Journal online.