Over the last few years, the Arizona Court of Appeals wrestled with the question of who should receive the excess proceeds from a foreclosure sale. We’ve blogged about some these past unreported decisions here and here. ...more
That pesky excess sale proceeds statute, A.R.S. § 33-727, is making waves again. We previously blogged about this statute... In the prior post, we explained that excess sale proceeds (i.e., a foreclosure sale price greater...more
When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more
7/16/2018
/ Anti-Deficiency Provisions ,
Appeals ,
Banking Sector ,
Borrowers ,
Creditors ,
Deed of Trust ,
Dismissal With Prejudice ,
Foreclosure ,
Homeowners ,
Homeowners Association (HOA) ,
Mortgage Lenders ,
Mortgages ,
Property Liens ,
Real Estate Transactions ,
Sheriffs Sale
Lenders routinely accelerate notes after a default occurs, calling the entire loan due immediately. Less regularly, a lender may change its mind and unilaterally revoke the acceleration. Rarely, however, does a lender fail to...more
7/3/2018
/ Acceleration ,
Affirmative Action ,
Appeals ,
Creditors ,
Debtors ,
Deed of Trust ,
Foreclosure ,
Homeowners Association (HOA) ,
Liens ,
Loans ,
Mortgage Lenders ,
Notice of Default ,
Promissory Notes ,
Property Owners ,
Reversal ,
Revocation ,
Sheriffs Sale ,
Standing ,
Statute of Limitations ,
Trustee Sales