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Real Estate & Property Law

: The Home Equity Theft Reporter

Foreclosed Arizona Homeowner Thwarts Lender's Illegal Lawsuit In Attempt To Collect Unpaid, Non-Recourse 2nd Mortgage Used To Purchase Home

By r morris

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From a press release from the office of Harper Law PLC:In a[n Arizona] foreclosure proceeding, the first mortgage is given preference over the subordinate or subsequent mortgages. In today's Arizona home market this process frequently leaves subordinate mortgages entirely unpaid after a foreclosure. Understandably, these lenders are pursuing all means possible to recover their losses, but

Full post as published by The Home Equity Theft Reporter on May 10, 2009 (boomark / email).

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