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The Protecting Tenants at Foreclosure Act helps give residential tenants peace of mind

Renters who fear losing their homes due to their landlords’ foreclosures have rights under the Protecting Tenants at Foreclosure Act (PTFA). The main feature of the law is it sets out uniform notice rights for tenants when a new owner … Continue reading

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Does my second mortgage qualify for Anti-Deficiency Protection?

Your second mortgage “qualifies” only if your property qualifies. Assuming your property qualifies, then the question becomes: was your second mortgage used to purchase the property? If so, then the second lender, like the first lender, can only look to … Continue reading

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Does My House/Property Qualify for Anti-Deficiency Protection? Part II

Are there any caveats written into a mortgage regarding deficiency judgments when the house was not purchased nor used as a “primary” residence? Continue reading

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What kind of property qualifies for anti-deficiency protection in Arizona?

In order to qualify for anti-deficiency protection in Arizona the property in question must (a) contain 2 ½ acres or less of land, and (b) be used as a one or two family dwelling. Continue reading

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New Findings on Mortgage Serious Delinquency Rates

Serious delinquency rates for mortgages continue to stabilize across the largest 100 U.S. metropolitan areas, though they remain at historically high levels according to the latest data from Foreclosure-Response.org. Serious delinquency, defined as the share of loans in foreclosure plus the share of loans delinquent 90 or more days, fell 10% from the peak in December 2009 through March 2011. The 90+-day delinquency component of the figure fell from 5.5% of the mortgage market to 3.9% over the same period. However, the share of homes in foreclosure continues to rise, increasing 12% in that period. Continue reading

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