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After looking at the wording of the arizona deficiency protection laws it looks like purchase money restriction only relates to mortgages AND not deeds of trust? Is this true? If so it wouldn't matter if cash was pulled out on a note secured with a deed of trust. Can someone clarify this for me?
Also, if you have the same lender for the 1st and 2nd loan, can they only foreclose through a trustee sale and then still be able to come after you for a deficiency on the 2nd loan?