Bankruptcy

Anti-Deficiency Statutes In Arizona; Do They Contribute to Strategic Defaults?

By Joseph McDaniel, Esq.

But it's also been suggested that anti-deficiency statutes "embolden" consumers to walk away from their houses.

Just so you know, I have a box of tissues on my desk. The most common reason the tissues get used is the realization that the debtor's house is history. Ordinary citizens aren't "emboldened" by statutes; they read statutes so they can make informed decisions.

Even Hammurabi understood that. Hence the Code of.

But here's a nice discussion of the anti-deficiency statutes in Arizona; they are a bit on the convoluted side, and as this article points out, no single strategy fits all, because of the convolutions.

And because the statutes are convoluted and funky, making decisions based on them is always a little more problematic than anybody would like.

I'll post the most recent versions of those statutes when I get a Round Tuit.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on June 27, 2010 (boomark / email).