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March 2014 Archives

Arizona's anti-deficiency statute does not apply to vacant lots

A case decided on Jan. 16, 2014 in the Court of Appeals of Arizona provides some guidance upon Arizona's so-called anti-deficiency law. In BMO Harris Bank v. Wildwood Creek Ranch LLC, a bank after a foreclosure brought a suit against certain borrowers to obtain a deficiency judgment on what was called an unimproved lot.

Arizona ranked 18th in U.S. foreclosure rate


For many Arizona residents, home is at the heart of the familial unit. Facing foreclosure, then, becomes one of the most difficult prospects they can face. Foreclosure threatens to rip the home away from a family, leaving them without a home base that so often keeps a family together. In some cases, however, it is possible to prevent foreclosure by employing certain defenses against any unlawful actions. Doing so may be able to save the family home.

Avoid construction problems by knowing Arizona's foundation


A 17.5 acre project that costs $90.5 million could be an Arizona contractor's dream, or a nightmare if something were to go wrong. A money-making project can easily have its profits eaten up if the building process has any delays or if problems are created during the building phase, creating a legal quagmire that could require special attention.

Values of Phoenix homes increased by double-digit percentages


During the great recession, property values were crushingly low and many Arizona residents likely hesitated to get into the real estate market. Without knowing how long the recession would last, it may have seemed foolish to purchase a home or invest in real estate. However, recent reports are showing that the real estate market is recovering as the values of Phoenix homes are increasing.

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