Goddard Offers Foreclosure Workbook August 25, 2009
Posted by Sue in Ask The Broker.1 comment so far
AZ Attorney General Goddard tells lenders to ease up in Arizona Republic article today: “Foreclosures are devastating families and communities across Arizona and America.” Billions of dollars of payment-option adjustable-rate mortgages (ARMs) were originated in Arizona, particularly near the end of the housing bubble. These loans allowed many consumers to buy homes and make a minimum payment that is only a fraction of the interest due on the mortgage. More than 120,000 payment-option ARMS are expected to reset in Arizona in the next 12 months. According to experts, a large percentage of payment-option ARMs could default once the reset is made.
Tenants Protected by Leases on Foreclosed Homes July 20, 2009
Posted by Sue in Ask The Broker.1 comment so far
Protecting Tenants at Foreclosure Act of 2009
Please see attached PDF: On May 20, 2009, the legislation referred to as "Protecting Tenants at Foreclosure Act of 2009” came into effect and provides tenants with leases the ability to remain in a foreclosed property at least until the end of the lease, and month-to-month tenants are entitled to 90 days’ notice before having to move, for all federally related loan foreclosures of residential property. An exception was made for the buyer who intends to live in the property who may terminate a lease with a 90 day notice.
Prior to May 20, 2009, most tenants were forced out of the property upon foreclosure. In Arizona, if the loan was recorded before the lease was signed the foreclosure would wipe out the lease. As of May 20th, leases survive the foreclosure, therefore allowing the tenant to occupy the property until the end of the lease period and month-to-month tenants are entitled to a 90 notice. The new rule applies to Section 8 tenants as well.
The Old Pueblo: Is it Zillowable? October 8, 2006
Posted by Sue in Technology.1 comment so far
It is one of those Sunday mornings in the Old Pueblo when you say to your neighbor, should you ever see your neighbor, “THIS is why we live here!” Wunderground.com shows the current temperature to be a perfect 70°, and my plan was to slip out the back door with my laptop and enjoy this glorious day out by the pool while creating a post about Zillow.com’s newest tool for property owners. Just as I open the back door, a baby bobcat literally skips (I swear) along the edge of the back patio wall towards mamma. Mamma is lying across the corner of the wall with her chin on one paw, the other dangles over the edge, sunning. And I remember why we’ve never cut down the mimosa tree there in the corner of the backyard, as the kitten scampers up the dead trunk to join his siblings. Factoring this into Zillow could be a challenge! … (more…)
Sue
