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 [...]
ARIZONA’S ANTI-DEFICIENCY LAWS
In Arizona, certain loans on residential real property are subject to what are called anti-deficiency laws. These laws limit a borrower’s liability to its lender if certain requirements are met. However, there are many misconceptions about Arizona’s anti-deficiency laws, when they apply, and whey they don’t. Moreover, Arizona’s anti-deficiency laws have been in recent flux, increasing [...]