Nevada at the Forefront

Nevada may be leading the fight to bring banks to task for their role in the current mortgage crisis. However, since so many people do not fully understand the facts, this fight will probably be hard fought until more people and states come on board. There has been so much bank chicanery it seems just as one problem is dealt with, eight more come to light. Many states that haven’t been as hard-hit by the mortgage crisis either don’t have the resources or the inclination to get as deeply involved as Nevada. To date, Nevada is the only state to file a criminal prosecution against anyone related to a bank for foreclosures. Furthermore Nevada is only one of two states to file complaints against Bank of America and the only state to file against Lender Processing Services. Las Vegas has benefited from excellent reporting on the mortgage crisis as well with Channel 8 I-Team George Knapp and Colleen McCarty’s report, Desert Underwater, which has distilled so much information and detail down to the root causes of the problems. So while Nevada may be leading the charge to right the wrongs of the mortgage industry, the biggest relief can only come once more people and states get educated on what can and should be done. They might do well to learn from Nevada and its efforts.