UPDATE ON ARIZONA’S ANTI-DEFICIENCY STATUTE
Posted by Marc McCain on November 25, 2009 , No comment
The Arizona legislature passed, and Governor Brewer signed into law on November 23, 2009, Senate Bill 1004 which returns Arizona’s trustee’s sale statute anti-deficiency clause to its form prior to passage of Senate Bill 1271. The Bill includes a retroactivity clause, making the change retroactive to September 30, 2009, the day SB 1271 had gone [...]
Filed under : Uncategorized
LENDER’S IGNORING ARIZONA LAW IN SHORT SALES
Posted by Marc McCain on , No comment
More and more I am seeing lenders be aggressive and unreasonable in demanding money from borrowers during the short sale approval process. Lenders are doing this even where AZ law prohibits them from waiving their security and suing on the note (i.e. where the loan is a purchase money loan on qualifying residential property). As a result, I am stressing the [...]
Filed under : Uncategorized