The New Housing Scam In Nevada

If you live in a HOA property in Nevada, you better pay your HOA dues and fines or else...
Tis was relayed to me by a realtor who is doing this.
If you owe past HOA dues or fines, the HOA can foreclose on your house now.
The house then goes for auction, with or without the owner knowing.
The house is sold to an investor, for as low as a few thousand dollars.
The new owner, the investor, sends a letter and says they now own the house and start charging you rent.
The bank holding the mortgage finds out and gets pissed because they just lost the mortgage.
They call the new investor/owner, madder than hell.
They negotiate and usually, the bank buys back the home for about $50,000 or so.
The investor then makes a quick profit of $45,000.
Welcome to Nevada's new housing scam, compliments of Brian Sandoval and the Democrat State Legislators.