How to Find the Right Scottsdale Realtors

Real Estate

This statute is similar to A.R.S. A�33-729(A) to the extent that by its categorical terms it prohibits a deficiency judgment after the property is sold. The statute is somewhat broader, nevertheless, because it’s not limited to “purchase cash” loans. Conclusion The Arizona legislature, in adopting these anti-deficiency real estate legal guidelines, undoubtedly supposed that a home-owner, who’s unable to make payments on a purchase order money mortgage, should lose not more than their residence. The Supreme Court of Arizona, in decoding this intent, has held that a secured lender may not waive its safety and sue directly on the note. In light of the large quantity of foreclosures now in Arizona, that answer should be forthcoming shortly.

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