Archived
I own an acre lot in Phoenix AZ. We planned on building our home but now cannot. We have a balloon note coming due in
Marc's answer
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Answered on May 03, 2009
Assuming Arizona law applies to this loan (this is an assumption and you need to know for certain to understand your situation), then AZ's...
Archived
If i have a 2nd mortgage on my house and the bank forecloses on the house. Does the 2nd get paid off when the house is sold
Marc's answer
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Answered on May 03, 2009
the first answer was correct on whether the 2nd gets paid off in a foreclosure -- in short, only when the foreclosure sales price is sufficient to...
Archived
I am about to foreclose on our property it is in my husbands name. can I buy another home in my name ?
Marc's answer
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Answered on May 03, 2009
I'd need more information to give you a meaninful answer. For instance, were you married when your husband bought the home? Do Arizona's...
Archived
Is my newly wedded husband going to be held responsible for my foreclosed home when I bought the house when I was single?
Marc's answer
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Answered on May 03, 2009
the first answer was correct that you husband should not have any liability for your home loan. unless he co-signed the note, the obligation is...
Archived
Im 150k upsidedown on my home in AZ. My lender wont do a shortsale or loan mod. Can I buy another home & walk away from the 1st?
Marc's answer
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Answered on May 03, 2009
Assuming Arizona law applies to your promissory note, if your lender forecloses on your home and if your home is 2 1/2 acres or less, a single 1 or...
Archived
Short sale process has taken 8 months, and is delayed again. Should we foreclose since we are unable to pay our morthgage?
Marc's answer
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Answered on May 03, 2009
I am sorry to hear about your situation. You are experiencing what many other owners are experiencing with the short sale process -- it can be...
Archived
Am I protected under Arizona's anti-deficiency laws?
Marc's answer
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Answered on May 03, 2009
It is not possible to answer your question without more information. you might want to review my blog at marcmccain.com on general guidelines for...
Archived
Hello, I would like to know if there is a way to verify if a home I am renting-- is in foreclosure? Is it considered public rec?
Marc's answer
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Answered on May 03, 2009
If your rental home is located in Maricopa County, check the County Recorder's website at http://recorder.maricopa.gov/recdocdata/. you can check...
Archived
My Mother's second home is going into foreclosure in AZ. Will the mortgage co. go after her assets?
Marc's answer
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Answered on May 03, 2009
What you really need to know is whether AZ's anti-deficiency statutes will bar the lender from seeking a deficiency judgment following a...
Archived
When second mortgage is a purchase loan issued with the first loan, can lender come after you upon foreclosure?
Marc's answer
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Answered on May 03, 2009
The first answer to your question was correct on the deficiency issue provided (1) Arizona law applies to your promissory note, and (2) your home...
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