Foreclosure

questions & answers

Question: Is a condo covered in the anti-deficiency statue of Arizona? My condo is one of a 4 unit building. Is that a single family dwelling? I am the only person who lives in it. Can someone please help?

Answer: For the purpose of the anti-deficiency statute, a “Qualified Property” means real property of”2.5 acres, or less,” and that is limited to and utilized as a “single-one-family or single-two-family dwelling”. However, AZ courts have held that four single-family condo units are not a Qualified Property.

QUESTIONS

  • Is a condo covered in the anti-deficiency statue of Arizona? My condo is one of a 4 unit building. Is that a single family dwelling? I am the only person who lives in it. Can someone please help?

STORIES

  • He told me that I could actually get all the money I needed by using my home as collateral. . .
  • He told me that I could actually get all the money I needed by using my home as collateral. . .
  • If you get a divorce, make sure your date of birth is on the Decree if your name is changing!. . .

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