By Catherine Reagor | The Republic Foreclosures recently hit a 15-year low in metro Phoenix but could quickly climb as more homeowners can’t pay their mortgage because they lost income or jobs during the COVID-19 pandemic. Already, a record number of Arizonans have applied for unemployment benefits as businesses have shuttered or scaled back operations to slow the spread of the coronavirus. Help is being …
Mortgages: Come full circle?
By Jim Belfiore and Jordan Rose | East Valley Tribune Anyone who owned a home a decade ago knows a little something about how housing values can fluctuate. Prior to 2006, most U.S. homeowners thought home values went only one direction: up. Sure, some years prices moderated, but generally, they went up 3 percent to 5 percent, and in some …
Real Estate Q & A: The mortgage debt relief act is dead, now what?
By Adam D. Martinez | Chairman of Real Estate Litigation Department Question: I read an article you wrote in 2010 about foreclosures and short sales. I work on a foreclosure defense project and I was wondering what will happen now that the Mortgage Debt Relief Act of has expired. Will borrowers have any other relief from mortgage debt forgiveness counting …