Are purchase money loans non recourse in AZ

[seattle-relo]

Hey Guys, boy do I have some family drama to tell you about. It looks like my mother’s sister “purchased” her house about 18 months ago with my mother’s identity – yep identity theft from a family member! I guess my aunt’s previous loan was in foreclosure and the friendly loan officer gave her the great idea to use my mom’s identity to obtain another loan. Nice! (My aunt is trying to blame the loan officer, not taking any personal responsibility for her actions) Well this new fraudulent loan is now in foreclosure (surprised?) and on my poor mom’s credit. She has written the bank a letter claiming that she did not take the loan out, but doesn’t really have the money to hire an attorney to fight the bank, so will probably have to face this hit on her credit. Because she owns her modest home, she is concerned that she might lose it. I called the bank and they told me the loan is a purchase money loan. So I am wondering if anyone has information about Arizona real estate laws and possible puchase money protection. I personally think her sister and brother-in-law should rot in jail for this, but right now I am trying to help my mom protect what little she has. I am so disgusted…unbelievable! I knew a lot of mortgage fraud was happening…I just didn’t realize how bad things could be.

Thanks.

[PCinSD]

I just did a google search of “non recourse loans arizona” and this was one of the first things to come up:

loansafe

This certainly suggests that in Arizona the loans are “non recourse”. I’d do a little more research, tho. Take a look at the actual laws they cite.

[PCinSD]

I just did a google search of “non recourse loans arizona” and this was one of the first things to come up:

loansafe

This certainly suggests that in Arizona the loans are “non recourse”. I’d do a little more research, tho. Take a look at the actual laws they cite.

[PCinSD]

I just did a google search of “non recourse loans arizona” and this was one of the first things to come up:

loansafe

This certainly suggests that in Arizona the loans are “non recourse”. I’d do a little more research, tho. Take a look at the actual laws they cite.

[PCinSD]

I just did a google search of “non recourse loans arizona” and this was one of the first things to come up:

loansafe

This certainly suggests that in Arizona the loans are “non recourse”. I’d do a little more research, tho. Take a look at the actual laws they cite.

[PCinSD]

I just did a google search of “non recourse loans arizona” and this was one of the first things to come up:

loansafe

This certainly suggests that in Arizona the loans are “non recourse”. I’d do a little more research, tho. Take a look at the actual laws they cite.

[seattle-relo]

Thanks Pablo. I did a web search and it seems that most likely it is a nonrecourse state.

[seattle-relo]

Thanks Pablo. I did a web search and it seems that most likely it is a nonrecourse state.

[seattle-relo]

Thanks Pablo. I did a web search and it seems that most likely it is a nonrecourse state.

[seattle-relo]

Thanks Pablo. I did a web search and it seems that most likely it is a nonrecourse state.

[seattle-relo]

Thanks Pablo. I did a web search and it seems that most likely it is a nonrecourse state.

[pbnative]

I’d report identity theft (however that works?) to show that someone was falsely using my identity. And get a credit report immediately, to make sure that the mortgage loan was my only problem.

[pbnative]

I’d report identity theft (however that works?) to show that someone was falsely using my identity. And get a credit report immediately, to make sure that the mortgage loan was my only problem.

[pbnative]

I’d report identity theft (however that works?) to show that someone was falsely using my identity. And get a credit report immediately, to make sure that the mortgage loan was my only problem.

[pbnative]

I’d report identity theft (however that works?) to show that someone was falsely using my identity. And get a credit report immediately, to make sure that the mortgage loan was my only problem.

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