SB-1271 Anti-Deficiency Statute

The anti-deficiency bill SB-1271 that passed Arizona legislation is receiving some heat. The original intention was to prevent investors in Arizona from foreclosing and short selling homes and sticking the local Arizona lenders with out any method of recovering the funds and thus making those banks go belly up. The major change was the requirement that the borrower had lived in the property for six consecutive months. Stick with us as we cover this topic over the next couple days.