Friday, April 24, 2015

In Nevada, can a lender legally make HOA dues mandatory for escrow

Question

In Nevada, can a lender legally make HOA dues mandatory for escrow



Answer

Not only can a lender do so, it should, in order to protect its interests (and yours) in the property. See the recent Nevada Supreme Court Opinion, SFR Invs. Pool 1, LLC v. U.S. Bank, N.A., 130 Nev. Adv. Op. 75 (September 18, 2014), for an example of what can happen when the HOAs are not paid. http://law.justia.com/cases/nevada/supreme-court/2014/63078.html

Your attorney can explain further.



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