SB 1271

Good news on the anti-deficiency legislation

in Arizona.  Senator Steve Pierce (who was the sponsor of the bill in question) has requested that the legislature revisit the bill to address the unintended consequences to homeowners that this bill carries.  Mr. Pierce met with the Arizona Association of Realtors yesterday to discuss how best to help Arizona’s small banks who are suffering from the mounting number of foreclosures and the lack of TARP funds to help the banks.

Thank you to Mr. Pierce for taking the time to listen to our concerns for homeowners in the State of Arizona.