Tucson Real Estate

terra antigua realty logoHighly Experienced and Highly Educated Professional Short Sale Real Estate Agents serving Tucson, Oro Valley, Marana, Vail, Sahuarita and Green Valley.



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Chris Pendleton


Shannan Marty

Associate Broker - Realtor®, ABR®,CDPE, CSP, CNE, CSSN, SFR, a-REO, PSC

Can the bank come after me for the difference? or What is the Arizona Anti-Deficiency Statute?


Chris Pendleton here Associate Broker with Tierra Antigua Realty and Short Sale Specialist and Certified Short Sale Negotiator in the metropolitan area of Tucson Arizona proudly serving the areas of Oro Valley, Marana, Tucson, Sahuarita, Green Valley and Vail.

When a homeowner is facing foreclosure it is one of the biggest financial crisis's of their life.  We speak to lots of homeowners each week about their options.  One of the most frequent questions we get is 'Can the bank come after me for the difference?'    That answer is 'it depends'.  We highly recommend that our clients seek independent legal and tax advice and this information is general in nature and is not a substitute to talking with a lawyer.

In Arizona we are a handful of States in which our legislature has protected homeowners with an Arizona  Antideficiency Statue.

This Arizona  Anti-deficiency Statue basically says that if you are a one or two family home, on 2 1/2 acres or less, you have occasionally occupied the home, and it is original purchase money mortgage that the only thing the bank can do is take your home.

Now one area that is grey for a lot of people is they have done a refinance on their home.  So the loan is no longer the original purchase money mortgage.  There have been some legal opinions from the Arizona Association of Realtors about re-financing and the applicability of the Arizona Anti-Deficiency Statute.  Home equity lines of credit are another challenge that a lot of home owners have when evaluating a deficiency.

Now, a Short Sale is a private workout solution between you and the bank.  We are very successful in obtaining settlements between sellers and their lenders and is often the best choice faced with foreclosure especially when there has been a refinance.  There are other advantages of a short sale over a foreclosure.  Call us today for a free consultation.