‘short sale’ ‘tax lien foreclosure attorney’ ‘tax liens’ ‘Arizona tax lien foreclosure attorney’ ‘robo signing’ ‘deed in lieu of foreclosure’ ‘buy and bail’ ‘Arizona real estate attorney’ ‘Tucson real estate attorney’
The Arizona Court of Appeals in Phoenix recently ruled in Independent Mortgage Company v. Alaburda, that Arizona’s anti-deficiency law (A.R.S. Section 33-814(G)) protects a borrower who has a fractional interest in a vacation home. The Alaburdas purchased a 1/10th fractional interest in a single-family residential condo in the exclusive Villas at Seven Canyons in Sedona. … [Read more…]
The Arizona Court of Appeals (Division 1 in Maricopa County) just issued an opinion entitled Helvetica v. Pasquan, which addresses the scope of Arizona’s anti-deficiency protections in the judicial foreclosure (non-trustee’s sale) context. The first issue the Court addressed is whether refinancing a purchase money loan forfeits a borrowers’ anti-deficiency protection, to the extent that … [Read more…]
Pima County just finished up its 2012 tax lien sale. Pima County offered up nearly 14,000 tax liens over the two day live auction. One thing was readily apparent this year – the competition for these liens was stiff. The influx of private equity money into the Pima County sale was obvious. Competition for $500 … [Read more…]
Arizona will receive $1.6 billion of the purported $25 billion joint federal-state settlement with the nation’s five largest mortgage servicers for their role in wide-spread servicer and foreclosure abuses. Arizona Attorney General Tom Horne’s decision to join the broad settlement also means that his office has reached an agreement with Bank of America over allegations … [Read more…]
A long-vaunted settlement arising from the sixteen-month 50-state investigation into faulty bank foreclosure practices, which has perpetually been imminent, has finally concluded. The deal was struck between federal banking officials, 49 states Attorneys General, and the five largest mortgage servicers – Bank of America Corp., JPMorgan Chase Co., Wells Fargo Co., Citigroup Inc., and Ally … [Read more…]
Democrats on the House oversight committee have apparently been pushing to subpoena the Federal Housing Finance Agency ("FHFA") to obtain an analysis looking at what effects principal reductions would have on Fannie Mae and Freddie Mac. As HousingWire has reported, FHFA Acting Director Edward DeMarco has long defended the agency’s policy of keeping Fannie and … [Read more…]
A new federal federal task force, dubbed the "Residential Mortgage-Backed Securities Working Group" led by New York Attorney General Eric Schneiderman has sent subpoenas to the 11 largest financial institutions in the past few days as part of its investigation into possible residential mortgage-backed securities fraud. Attorney General Eric Schneiderman who was cast off the central … [Read more…]
Anyone who has been involved in dealing with banks in the realm of loan modification have come to accept (at least at some level) that banks move with glacial speed. Well, for those with a high credit score who actually just want to close a loan – this may be the way to go…..
Fourteen U.S. mortgage servicers and their affiliates are making available a free, "impartial" Independent Foreclosure Review process (website – Independent Foreclosure Review) to certain of their borrowers, as part of certain consent orders entered into with federal bank regulators, the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS), and … [Read more…]