Housing and Economic Recovery Act

Nevada State Court Ruling on Application of HERA to HOA Foreclosure Sales   Holds Promise for Lenders and GSEsThe first Nevada state court ruling on the federal Housing and Economic Recovery Act (HERA) holds that a deed of trust owned by a GSE cannot be extinguished by a homeowners’ association’s (HOA) foreclosure sale, a promising development for Fannie Mae, Freddie Mac, and lenders embroiled in quiet title cases with purchasers from HOA foreclosure