Profile picture for yowie

is arizona a non-recourse loan state, or both recourse and non?

  • July 16 2009 - Phoenix
  • 1
    1Yes

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Answers (5)

Profile picture for jerseygal821
Thank you, I did just post a question as you mentioned on the site.
  • June 22 2011
  • 1Yes

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Profile picture for sunnyview
That sounds like a pretty specific legal question. There is some basic AZ foreclosure information here, but you might try asking the avvo forum here. You can ask a lawyer in your local area one question for free.

They will have the specific legal information that you need about recourse vs non in the case of a refi. Just make sure and include all information in your original question on avvo so that they have all they need to answer it well. Hope it helps.
  • June 22 2011
  • 1Yes

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Profile picture for jerseygal821
Have the laws changed on non recourse in Arizona. My loan was sorta a refinance, I had to refinance mortgage due to divorce and put loan in my name back in 2005 and my ex got half of the equity. Would that still qualify under the non recourse law?
  • June 22 2011
  • 1Yes

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Profile picture for sparky.06
AZ is non recourse providing it was a purchase money mortgage. (No refi or cash out).

See this page: http://www.loansafe.org/forum/foreclosure-laws/4130-recourse-v-non-recourse-states.html
  • July 16 2009
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Arizona is a non-recourse state.

Here's a link that explains it fairly clearly.

http://ezinearticles.com/?Arizona-Real-Estate-Law---Understanding-Arizonas-Anti-Deficiency-Statutes&id=1376348
  • July 16 2009
  • 1Yes

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