Legal Question in Real Estate Law in Arizona

Foreclosure in Arizona

I have an home in arizona. The value is approximately about $140000. I still owe $179000 on it. can I walk away from it, and if so can they sue me for any balance if resold for less than the amount owed. It is a PMI insured mortgage.


Asked on 7/05/09, 4:33 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: Foreclosure in Arizona

You can walk away. There is an Anti-deficiency statute in AZ so the morgage lender cannot go after you if the loan is not paid back in full.

Read more
Answered on 7/05/09, 11:42 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Arizona