navada 02Nevada high court upholds out-of-court foreclosure process


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The Nevada Supreme Court has upheld the use of an out-of-court foreclosure process that helped investors acquire homeowner association properties at reduced prices during the Great Recession.

Justices ruled unanimously Thursday that the process doesn’t violate protections for original mortgage holders under the U.S. and Nevada constitutions — and that due process rights weren’t violated because purchases don’t constitute a state action.

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