Several pieces of important Arizona legislation that would have slowed foreclosures and potentially aided in the recovery of the housing market died in the recent session.
But some key bills did survive, and the new laws will help.
• Senate Bill 1130 regulates the growing number of foreclosure consultants working with homeowners. This legislation makes it illegal [...]
Phoenix Home Prices Improve
Phoenix is one 91 cities out of 152 across the country to post an increase in home prices during the past year.
Results from the National Association of Realtors latest survey, released Today, show existing home prices climbed 9.1 percent in the Phoenix-area for the 12 months ended March 31st. The region’s median [...]
Losing your home: What Happens in a AZ Foreclosure
When a homeowner falls behind on at least three mortgage payments, a lender will usually initiate foreclosure proceedings.
In the first step, the lender hires a trustee to handle the foreclosure and ensure that the process follows Arizona laws.
In metropolitan Phoenix, a notice of trustee sale is filed [...]
Arizona No. 4 For Mortgage Fraud
Arizona now ranks fourth for mortgage fraud nationally. It’s the first time the state has cracked the top five for the problem, according to data released this week from the Mortgage Asset Research Institute.
Florida, New York and California (in that order) rank ahead of Arizona in 2009 mortgage-fraud cases. The [...]
First-time homebuyer rebate expires April 30
When the clock strikes twelve on Friday night, a key incentive driving Valley new-home sales will go the way of Cinderella’s horse-drawn carriage.
A federal income-tax rebate of up to $8,000 for first-time homebuyers, and a later-approved rebate of up to $6,500 for some repeat buyers, no longer will be in [...]
Gilbert, Queen Creek Housing Permits Spike
Gilbert and Queen Creek saw big upward spikes in the number of single-family housing permits issued in the first two months of 2010, in large part due to tax credits that end Friday.
Gilbert’s 260 permits during the first two months of the year were up dramatically over 81 during the [...]