Arizona Anti-Deficiency Statute Update

Here is a link to an update from the President of the Arizona Association of Realtors on developments concerning the Arizona Anti-Deficiency Law as of August 5, 2009

Anti-deficiency prohibits a lender from pursuing a former owner for the difference between the mortgage and what the house sold for at foreclosure. These days many homes are "upside down" in value so this is an important protection (see earlier posts for details).

Foreclosure notification for tenants of foreclosed properties is also discussed.

Here is a link to the update.

Richard