DALLAS: Real estate investors who took advantage of a Nevada law during the foreclosure crisis to acquire several thousand foreclosed homes at bargain prices got what could be bad news recently courtesy of the 9th Circuit Court of Appeals.
In a 2-1 decision Aug. 12, a court panel said a Nevada law requiring mortgage lenders to be alerted of a foreclosure by a homeowners association only if the lender had requested notice is unconstitutional. The panel said the requirement of an “opt-in” request is a violation of the 14th Amendment requiring due process…