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  1. #1
    Join Date
    Mar 2005
    Location
    arizona
    Posts
    41

    Default Arizona Foreclosure Laws

    hello
    I own a house, on an acre, in rural AZ. I owe more on it ,than it is worth, payments are 900 permonth, house is now vacant, I moved out, and bought another house,.
    I can not, and will not keep making payments on that other house.
    and I found out,,,...,. ARIZONA IS A NO DEFICIENCY STATE----
    WHICH I HAVE HEARD MEANS, that you can walk away from a house, the lender takes it back, sells it, and the monies the lender looses, ,well, they cant come after you,.
    credit is screwed up, but, you are free from that house,.,.,.

  2. #2
    Join Date
    Mar 2005
    Location
    arizona
    Posts
    41

    Default Re: Arizona Foreclosure Laws

    well, I am hope ful that some one, ,.,.,., whom frequents this site, could affirm my belief in AZ deficiency laws,..,.

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Arizona Foreclosure Laws

    You can review Arizona's statutes here.

  4. #4
    Join Date
    Oct 2005
    Location
    Massachusetts
    Posts
    755

    Default Re: Arizona Foreclosure Laws

    $900 a month mortgage.
    Man o man, what I wouldn't give to pay only $900 for a house.

  5. #5
    Join Date
    Mar 2005
    Location
    arizona
    Posts
    41

    Default Re: Arizona Foreclosure Laws

    AZRS 33-814 SECTION G
    G. If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or a single two-family dwelling is sold pursuant to the trustee's power of sale, no action may be maintained to recover any difference between the amount obtained by sale and the amount of the indebtedness and any interest, costs and expenses.

    FROM WHAT i CAN LEARN, i SHOULD BE ABLE TO WALK AWAY FROM THIS HOUSE,.WHERE I LIVED FOR A YEAR.
    NO LAWYER WANTS TO BOTHERED WITH THIS, AS I HAVE TRIED TO GET A CONSULTATION, SO I RESEARCH ON MY OWN, WHICH REALLY IS THE WAY OUR LEGAL SYSTEM SHOULD BE,..

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