mortgage

When Are Prepayment Penalties Allowed In New Mortgages?

Buying a home is a big financial decision. It often requires getting a mortgage to pay for it. Therefore, you must first understand the terms and conditions before signing a mortgage agreement. Among the conditions, it includes whether the mortgage contains a clause for prepayment penalties. In Arizona, a prepayment penalty is allowed under certain …

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Survivorship: What Happens To A Mortgage When One Spouse Dies?

Handling the financial effects of losing a loved one can be just as tough as handling the emotional effects. One of the financial considerations in survivorship is the outcome of a mortgage. Particularly in places with community property rules like Arizona, there are legal implications. So, what happens to a mortgage in Arizona when one …

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Understanding Mortgages In Arizona And The Major Players In A Foreclosure Process

We know how complicated foreclosures can be. There’s a great deal of stress and uncertainty that comes with it. This is why homeowners should understand how mortgages work in the first place. Just like in other states, Arizona has its specific  regulations in the realm of real estate and homeownership. Therefore, it only makes sense …

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Deficiency Judgments In Arizona: Will You Still Owe Money After The Foreclosure?

While losing your home is already a devastating experience, you might also be concerned about how your financial situation will change after the foreclosure process is over. In some cases, the answer is no, as Arizona law allows for deficiency judgments. This, unfortunately, can leave homeowners still owing money even after the foreclosure. What is …

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Help For Veterans Struggling With Mortgage Payments In Arizona

Veterans struggling with mortgage payments must know that there are resources that could help them. In Arizona, the state provided programs to help them maintain their homes and hopefully, avoid foreclosure. These legal provisions aim to show gratitude for the sacrifices that veterans have made to serve the country. Understanding the Mortgage Problems of Veterans …

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