Combatting Calif. And Ariz. Antideficiency Legislation

Law360, New York (March 2, 2012, 11:07 AM EST) -- Rising foreclosure rates in the residential real estate market have prompted underwater borrowers to ask about possible foreclosure strategies — most notably, how to avoid deficiency judgments. Often overlooked, however, are the challenges that lenders face, primarily due to borrowers choosing to strategically default on their mortgage when the amount owing on the loan exceeds the value of their home.

These challenges are of particular concern for lenders operating in states like Arizona and California that have enacted strict antideficiency laws to mitigate the effects of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.