A Call to the Arizona Governor

Apparently the Arizona Association of REALTORS has written a letter to the Arizona Governor Jan Brewer. It is a request to Amend the Call for Special Session to Address Issues Resulting from SB 1271's passage. In a letter dated July 22, 2009, AAR CEO Tom Farley writes a three page letter accompanied by 30+ pages of Case law and practical issues backing up his claim that the recently passed SB 1271 amendement to the anti-deficiency statutes has gone too far and shifts the now balanced power between owners and lenders to the lenders favor. In the form of a fast foreclosure, and a double recovery for the lender. Thereby minimizing the possibility a lender would even consider working with a homeowner in distress since they could foreclose the property quickly for pennies on the dollar and pursue the deficiency from a judgement easily obtained. CHECK BACK FOR MORE!