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2012

Blog Posts in 2012

  • Can A Real Estate Agent's LLC Sign An Independent Contractor Agreement With A Broker?

    Can A Real Estate Agent's LLC Sign An Independent Contractor Agreement With A Broker? You may not know, but in Arizona, professional limited liability companies (LLC) or corporations (PC) are permitted to hold real estate licenses with the Arizona Department of Real Estate (ADRE). Therefore, a real estate agent can form a professional limited liability company or corporation and obtain a real ...
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  • Hogan v. Washington Mutual - Show Me The Note! The Arizona Supreme Court Says "Not Required"

    Hogan v. Washington Mutual Bank Can a borrower/property owner defeat a non-judicial foreclosure sale (trustee's sale) by demanding that the lender prove that it is the holder of the underlying promissory note? In Hogan v. Washington Mutual Bank the Arizona Supreme Court answered that question with a resounding "No." In Hogan , the borrower defaulted on the loans for two properties. The lenders, ...
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  • Adam Decker Selected As A Southwest Super Lawyers Rising Star

    Southwest Super Lawyers Rising Star Press Release - Adam Decker Selection Adam Decker has been named to the Southwest Super Lawyers Rising Stars list as one of the top up-and-coming attorneys in Arizona for 2012. Each year, no more than 2.5 percent of the lawyers in the state receive this honor. The selection for this respected list is made by the research team at Super Lawyers . Super Lawyers , a ...
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  • Helvetica Servicing v. Pasquan - Recent Case Law Affecting Arizona's Anti-Deficiency Statutes - One Step Forward, One Step Back

    Helvetica Servicing v. Pasquan - Recent Case Law Affecting Arizona’s Anti-Deficiency Statutes - One Step Forward, One Step Back In its recent decision in Helvetica Servicing v. Pasquan, the Arizona Court of Appeals sought to address two questions that have lingered since the Court's decision in Bank One v. Beauvais . First, the Court looked at whether construction loans used to build a residence ...
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  • The Expiration of the Mortgage Forgiveness Debt Relief Act Leads To Continued Frustration Over Taxation.

    At Schern Richardson Finter Decker, PLC , our practice focuses primarily on real estate and commercial litigation matters. However, as a result of the downturn in the Arizona real estate market, real estate practitioners in Arizona increasingly find themselves assisting clients with issues related to taxation and bankruptcy. It has come to my attention that tax professionals are presently ...
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  • 5 Next Steps When The Appraisal Comes In Too Low

    5 Next Steps When The Appraisal Comes In Too Low We recently came upon a very informative article about what steps a buyer can take when an appraisal comes in too low. In short, those steps are: 1. Appeal errors or bad comps to the appraiser. 2. Ask for a second opinion. 3. Rengotiate the terms of the purchase contract. 4. Pay the difference or split the difference. 5. Change lenders. For a more ...
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  • 42% of Arizona home sales are distressed properties.

    42% of Arizona home sales are distressed properties .* A new analysis shows that more than 42 percent of all Arizona home sales last year were either foreclosures or in some stage of foreclosure. That's an increase of 12 percent from 2010 but a slight drop from the number in 2009. The report released Thursday by foreclosure tracking firm RealtyTrac shows the percentage of distressed sales in the ...
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  • Arizona Mortgage Settlement - How Will Settlement Dollars Get To Homeowners?

    Arizona Mortgage Settlement - How Will Settlement Dollars Get To Homeowners?* On February 9, 2012, an historic joint state-federal settlement was reached between Arizona and 49 other states, the federal government and the country’s five largest residential mortgage loan servicers—Ally/GMAC, Bank of America, Citibank, JPMorgan Chase and Wells Fargo. The settlement will provide as much as $25 ...
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  • M&I Bank v. Mueller - The Expansion of the Arizona Anti-Deficiency Statute

    The Arizona Court of Appeals recently expanded Arizona's anti-deficiency statute governing the pursuit of a deficiency following the foreclosure of a deed of trust in the case of M&I Marshall & Ilsley Bank v. Mueller (link provided). Most home loans are secured by deeds of trust in Arizona. When a homeowner quits making payments , the lender may foreclose on the home through an auction via a ...
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