California, Nevada AGs Launch Joint Investigation Into Foreclosure Fraud

The attorneys general of California and Nevada — two of the states hit hardest by the housing crisis that spawned the Great Recession — are launching a joint investigation to assist homeowners who have been victims of foreclosure fraud and abuse, they announced today. Nevada had the highest foreclosure rate in the nation in 2010 (9.4 percent), while California had the highest foreclosure total, with more than 569,000 filings. The two states also had the highest rates in October 2011, the last month for which data is available. “The mortgage crisis is a law enforcement matter, and we will prosecute to hold accountable those who are responsible and also protect the homeowners who are targeted for fraud,” California AG Kamala Harris (D) said in a statement.