Upcoming Foreclosures

Do you think the Arizona amendment to the foreclosure law will be repealed?

The amendment ( SB1271 ) that makes some homeowners in foreclosure liable for the the difference between their mortgage and what their lender can recoup from reselling the house.

Public Comments

1. Hopefully not. People need to be held accountable for not owning up to their responsibility of paying back money that they were lent. If you loaned me $5,000 but I only paid you back $2,000, wouldn't you want to take me to court for the $3,000 that I still owe you???? What is the difference?? You stiff someone for a loan, then you SHOULD be held financially accountable AND responsible for it.......PERIOD.
2. top border border border line Arizona State Legislature Bill Number Search: Capitol Roof picture Forty-ninth Legislature - First Regular Session change session | printer friendly version | site map | email * Senate o Senate Web Site o Members o Live Proceedings o Audio Archives o Deadlines o Rules o Seating o Briefs o Legislative Summary o Confirmations o Weekly Schedule o Committee Presentations * House o House Web Site o Members o Live Proceedings o Deadlines o Rules o Seating o Legislative Summary o Video Archives o Weekly Schedule * Legislative Council o Publications o Arizona Revised Statutes o Arizona State Constitution * JLBC * More Agencies o Legislative + Auditor General + Ombudsman + State Library o Executive + Governor + Secretary of State + State of Arizona + Agency Directory + Admin Code o Judicial + Supreme Court * Bills o Bill Info o Dispositions o Summaries o Strike Everything o Governor's Letters o Session Laws * Committees o Standing Committee o Interim Committee o House Agendas o Senate Agendas o JLBC Agendas o Conference * Calendars/News o Floor Calendars o ALIS Today o Caucus Packets o Press Releases o Capitol Events Forty-ninth Legislature Finance First Regular Session S.B. 1271 COMMITTEE ON FINANCE SENATE AMENDMENTS TO S.B. 1271 (Reference to printed bill) Strike everything after enacting clause and insert: "Section 1. Section 33-814, Arizona Revised Statutes, is amended to read: START_STATUTE33-814. Action to recover balance after sale or foreclosure on property under trust deed A. Except as provided in subsections F and G of this section, within ninety days after the date of sale of trust property under a trust deed pursuant to section 33‑807, an action may be maintained to recover a deficiency judgment against any person directly, indirectly or contingently liable on the contract for which the trust deed was given as security including any guarantor of or surety for the contract and any partner of a trustor or other obligor which is a partnership. In any such action against such a person, the deficiency judgment shall be for an amount equal to the sum of the total amount owed the beneficiary as of the date of the sale, as determined by the court less the fair market value of the trust property on the date of the sale as determined by the court or the sale price at the trustee's sale, whichever is higher. A written application for determination of the fair market value of the real property may be filed by a judgment debtor with the court in the action for a deficiency judgment or in any other action on the contract which has been maintained. Notice of the filing of an application and the hearing shall be given to all parties to the action. The fair market value shall be determined by the court at a priority hearing upon such evidence as the court may allow. The court shall issue an order crediting the amount due on the judgment with the greater of the sales price or the fair market value of the real property. For the purposes of this subsection, "fair market value" shall mean means the most probable price, as of the date of the execution sale, in cash, or in terms equivalent to cash, or in other precisely revealed terms, after deduction of prior liens and encumbrances with interest to the date of sale, for which the real property or interest therein would sell after reasonable exposure in the market under conditions requisite to fair sale, with the buyer and seller each acting prudently, knowledgeably and for self‑interest, and assuming that neither is under duress. Any deficiency judgment recovered shall include interest on the amount of the deficiency from the date of the sale at the rate provided in the deed of trust or in any of the contracts evidencing the debt, together with any costs and disbursements of the action. B. If a trustee's sale is a sale of less than all of the trust property or is a sale pursuant to one of two or more trust deeds securing the same obligation, the ninety day time limitations of subsection A of this section shall begin on either the date of the trustee's sale of the last of the trust
3. Hi. Hopefully not. People need to be held accountable for not owning up to their responsibility of paying back money that they were lent. If you more quarry so please you can go here http://foreclosureworkouts.info/