LAS VEGAS REVIEW-
CARSON CITY — A case that could affect the validity of thousands of Las Vegas foreclosure sales stemming from the real estate crisis that began nearly a decade ago was heard Thursday by the Nevada Supreme Court.
The court is now expected to rule on the question of the constitutionality of the nonjudicial foreclosure process used by investors and speculators to acquire homes at a fraction of their value by paying off liens held by homeowners associations.
Because of the legal disputes and questions over ownership, none of the properties can be sold because they have clouded titles. It will take additional rulings from Nevada and federal courts to finally resolve the issue for all of the involved parties.
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