PHX Consulting’s 1st Annual Holiday Food Drive
We are still looking for more donations and there is still plenty of time (the food drive ends on December 14, 2011). Even as little as one or two cans of food can make a huge difference in these people’s lives. Thank you for your support!!! During this holiday season there are many less fortunate [...]
MARS RULES WON’T BE ENFORCED AGAINST REALTORS IN SHORT SALES
On July 15th, 2011, the FTC issued a Press Release stating that they will not enforce most provisions of the Mortgage Assistance Relief Services (“MARS”) rules against real estate brokers and real estate agents. (see the statement and press release at http://ftc.gov/opa/2011/07/mars.shtm). The MARS rules as written clearly apply to real estate brokers and agents assisting [...]
UPDATE ON MARS AND ADVANCE FEES TO ARIZONA REALTORS FOR SHORT SALE NEGOTIATIONS
The Arizona Department of Real Estate updated their position on the new MARS Rule (Mortgage Assistance Relief Services) and other applicable Arizona laws in relation to short sales and how they limit the type of services and fees licensed realtors and brokers in Arizona can perform and receive in the short sale context. The update changes [...]
NEW MARS GUIDELINES AND RULES ON BROKER’S NEGOTIATING SHORT SALES IN ARIZONA
Below is a recent article from the Arizona Department of Real Estate and Arizona Associaiton of Realtors regarding the Federal Government’s new Mortgage Assistance Relief Services (“MARS”) guidelines and the ability of real estate brokers and their agents to negotiate short sales in Arizona. In sum, MARS applies to brokers and realtors who negotiate short sales on [...]
UPDATES ON ARIZONA TRENDS IN FORECLOSURE AND LENDER COLLECTION EFFORTS
Arizona’s residential real estate market continues to be driven by foreclosure sales and short sales and there seems to be no end in site. Opinions vary, but many so called experts now forecast that Arizona’s residential market will not hit bottom until sometime in 2014. For owners struggling with mortgage payments or tring to sell [...]
Lender Collection Efforts on HELOC’s and Junior Debt in Arizona
A recent story in the New York Times explored whether borrowers electing to walk away from their homes are facing lawsuits and collection efforts by the holders of junior loans on residential property. See the article at http://www.nytimes.com/2010/08/12/business/12debt.html or the attached pdf debts-rise-and-go-unpaid-as-bust-erodes-home-equity-nyt The Reporter, David Streitfeld, spoke with me and several other attorneys, to gauge [...]