Detailed Anti-Deficiency Advice from a Knowledgeable Gilbert Debt Relief Lawyer
Many people have heard that in Arizona, an anti-deficiency statute gives them the right to simply walk away from their house without fear of repayment of their mortgage loans. While this may be true in some cases, it is extremely important to understand the limitations to this option before turning your home over to your lender.
At the Law Office of Chris Dutkiewicz, P.C., we offer anti-deficiency advice to clients throughout the East Valley area. With a detailed understanding of anti-deficiency guidelines, our Arizona anti-deficiency and foreclosure attorney works to help you understand the protection afforded to you by the statues.
Personalized Advice on Your Unique Situation
Unfortunately, many cases do not qualify for the anti-deficiency protection, including those involving refinances, second mortgages or home equity lines of credit. With this in mind, it is vital to speak to an attorney before walking away from your home. If you do not qualify for the protection, you may be held liable for any remaining balance on your mortgage following the trustee sale.
We work to provide the advice you need to understand the protection you are afforded by the anti-deficiency laws, as well as the other options you may have for seeking relief from your debt, including bankruptcy filings, debt negotiation or short sale.
We feel that is also important to note that anti-deficiency laws do not provide protection for owners of undeveloped land or commercial property, making it even more important to consult an attorney for advice on your options for relieving yourself of overwhelming debt.
New Debtor Protection Laws
The Debt and Mortgage Relief Act of 2007 and Foreclosure Prevention and Home Ownership Protection Act of 2008 each provide protection for debtors. These guidelines can be helpful in your pursuit of overwhelming debt, but can be confusing to interpret to your unique situation.
We work to help you understand these new debtor protection laws and how they can be used to your benefit, and offer advice on every possible option you may have for finding relief from a troubling financial situation.
Contact our office online or call 480-359-1323 or toll-free 888-365-6214 to discuss your specific anti-deficiency or debtor protection concerns.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
