Nevada foreclosure starts plummeted in October in reaction to the passing of AB 284, which imposed stricter requirements on filing new notices of default, and seems to have specifically targeted ReconTrust – the trustee that handles all Bank of America and Countrywide foreclosures – by prohibiting a trustee from being owned by the foreclosing lender, as ReconTrust is, reports ForeclosureRadar. Nevada (Notice of Default filings):
Foreclosure Starts: 1,025 (-81.5%)
Foreclosure Sales: 2,270 (+10.7%)
