• Arizona Court of Appeals Expands, Then Narrows, Anti-Deficiency Protection
  • December 26, 2014 | Author: Robert R. Berk
  • Law Firm: Jones, Skelton & Hochuli, P.L.C. - Phoenix Office
  • Like many states, Arizona protects homeowners from the “double whammy” of losing their homes to foreclosure and then facing liability for the balance owed on their mortgage loans. A.R.S. § 33-814(g) provides that “If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or a single two-family dwelling is sold pursuant to the trustee’s power of sale, no action may be maintained to recover any difference between the amount obtained by sale and the amount of the indebtedness.”