Lawmakers Tout Consumer Protection Bills
CARSON CITY, Nev. (AP) — Democratic leaders in the Nevada Legislature outlined more bill priorities, the latest batch focusing on consumer protection.
Among the measures discussed Tuesday during a round-table with reporters are protections for homeowners facing foreclosure. The two bills, AB273 and AB300, center on the good faith of the borrowers and or lenders.
Assemblyman Marcus Conklin of Las Vegas says AB273 seeks to protect homeowners on several fronts, including the overall take banks can walk away with when foreclosing on houses.
It would prevent banks from getting a deficiency judgment and selling it to a third-party collection agency — a practice that doesn’t help homeowners because they end up owing the collection agency.
AB300 also addresses foreclosures by imposing penalties on lenders for not making paperwork or bank representatives available for mediation.