A common question I get is how long must a person wait after a foreclosure, short sale or bankruptcy before that person will qualify for another home loan. Although an Arizona real estate lawyer or Arizona bankruptcy lawyer is not a “credit expert”, Fannie Mae has established a number of different waiting periods for so called “derogatory credit events”.
Some people mistakenly believe that filing bankruptcy will force a mortgage lender to agree to a home modification. Not true. However, an experienced Arizona bankruptcy lawyer and real estate lawyer will advise you that you may be able to get rid of junior liens if the value of your home is worth less than what you owe on your first mortgage.
There are many myths about the benefits of short sales. The downside of short sales may be much more than the upside because the legal ramifications and adverse consequences could be more severe than opting for a foreclosure. Always consult with an experienced Arizona real estate lawyer, an Arizona foreclosure lawyer or an Arizona bankruptcy lawyer before considering a short sale.
The Arizona anti-deficiency statute is powerful protection for homebuyers with mortgage loans. But it may not apply in all situations. Consult with a competent Arizona real estate lawyer and Arizona bankruptcy lawyer to determine whether the anti-deficiency statute will protect you from being sued after a foreclosure.
J.R. Ewing realized that it was important to hire an Arizona real estate lawyer to help evict his tenant that refuses to pay rent. The Arizona Residential Landlord and Tenant Act sets forth the rights and obligations of both landlords and tenants involving residential leases. And there are plenty of landmines to be aware of.