Posts Tagged ‘judicial foreclosure’
Understanding Mortgage vs. Deed of Trust
Understanding Mortgage vs. Deed of Trust Question: In Arizona, a deed of trust can be used as well as a mortgage to secure a loan on a home. Other states use only mortgages. Why does Arizona also have deeds of trust? Answer: Since 1971 Arizona has had both mortgages and deeds of trust to secure…
Read MoreAnti-deficiency Statute Doesn't Apply in Mexico
Question: We bought through a Mexican trust a condominium in Rocky Point, Mexico, during the “boom” time. The mortgage financing for the purchase of this condominium was with our bank in Arizona. Although we have managed to stay current on our mortgage payments, we are at least $200,000 underwater, and we no longer can…
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