Does the Arizona Anti-Deficiency Statute Apply to Construction Loans?
Any competent Arizona real estate lawyer, Arizona foreclosure lawyer or Arizona bankruptcy lawyer will agree that the Arizona anti-deficiency statute is one of the most important Arizona laws protecting borrowers with loans secured by a residence. This statute will prevent many mortgage lenders from suing debtors for any deficiency amount after a foreclosure occurs. In a surprise ruling, a recent Arizona Court of Appeals case has extended the Arizona anti-deficiency statute to construction loans.