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Category Archives: Mortgages and Foreclosure Prevention in Arizona

In this section, we address common mortgage issues, including what happens if you are unable to make mortgage payments, and the available foreclosure prevention options.

Can My Mortgage Company Foreclose on My Home During the COVID-19 Pandemic?

For those who have fallen behind on their mortgage payments as a result of the coronavirus pandemic, the CARES Act passed by Congress in March 2020 may offer you protection.  The protections and scope of this law are explained below: What mortgages are covered under the CARES Act? In order to be covered under this […]

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Can My Landlord Evict Me During the COVID-19 Pandemic?

With millions of people currently out of work due to the coronavirus pandemic, many people are falling behind on their rent payments, and are worried about eviction.  The good news is that the recently-passed CARES Act imposes a moratorium (pause) on evictions due to non-payment of rent or other charges.  The moratorium does not cover […]

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New Mortgage Modification Program Coming to Arizona

For those struggling to make their mortgage payments, and having even more difficulty getting their mortgage company to respond to their mortgage modification requests, a new mortgage modification mediation program administered through the bankruptcy courts can offer a solution. The new program provides a streamlined and transparent process, under the supervision of the bankruptcy court, […]

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Court Expands Mortgage Interest Deduction

In a recent decision, the 9th Circuit Court of Appeals expanded the mortgage interest deduction, effectively doubling the deduction limits for unmarried co-owners. The decision has important implications for individuals with very high mortgage debt, and also for those who take out second mortgages on their homes. Read on to find out more. The tax […]

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Going Through A Mortgage Modification While Behind On Mortgage Payments? Read This First.

I get contacted almost every week by people who were attempting to do a mortgage modification (also known as loan modification) through their mortgage company, but ended up losing their house to foreclosure.

It’s a similar situation in every case: the homeowner is behind on his or her mortgage payments, and the mortgage company threatens or even starts foreclosure proceedings. In an effort to save the house, the homeowner contacts the mortgage company, and is told that he or she may qualify for a mortgage modification, but that she needs to complete an application, provide financial information, and then wait for this information to be reviewed by the mortgage company.

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What Happens To My Property When I File For Bankruptcy?

Almost all of us own property. When the term “property” is mentioned, most people think of land or a house. However, property includes any item or thing that a person may own or possess. So, land or a house are property, but so is a car, a couch, a computer, a wedding ring, a book collection, or a set of tools. In addition, intangible things (i.e. things that you cannot hold in your hands) can also be property. For example, if you have a checking account, that checking account is property. If you are a part owner of a business, your interest in the business is also property, and so on.

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