Posts Tagged ‘Arizona foreclosure’
Homestead Exemption Protects $400,000 of the Equity in a Home
Question: My parents only have their monthly Social Security payments for living expenses, and they have fallen behind on their mortgage payments for their Scottsdale condominium. Their mortgage lender has now scheduled a foreclosure sale in May. My parents’ Realtor says that their Scottsdale condominium has equity of at least $500,000, and that she is…
Read MoreArizona Prefers Deeds of Trust Over Mortgages for Home Loans
Question: In Arizona a deed of trust is used rather than a mortgage for a loan secured by a home or other real property. Other states, such as our home state of Massachusetts, use mortgages rather than deeds of trust. Is there an Arizona law that only deeds of trust must be used? …
Read MoreTenants Protected During Foreclosure
Question: We have four months remaining on our one-year lease of our Chandler home. When we came home yesterday, we noticed a piece of paper posted on our garage door saying that there is a foreclosure auction scheduled in less than three months. When we contacted our landlord, he said he was trying to refinance…
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