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bankruptcy: Anti-Deficiency Statutes in Arizona - 07/31/10 11:26 PM
Anti-Deficiency Statutes in Arizona
The real estate picture in Phoenix and surrounding areas continues to be grim and has been worse than most other cities across America. Many people owe much more than what their house is worth. The good news for Phoenix homeowners is that there are two anti-deficiency statutes in Arizona, one covers deeds of trusts (Arizona Revised Statutes Section 33-814(G)) and the other covers mortgages (Arizona Revised Statutes Section 33-729).
The Arizona anti-deficiency statutes can be best explained in the following manner. Generally, if you own a one-family home or a duplex, that is two and … (4 comments)
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bankruptcy: Meeting of Creditors in Bankruptcy - 07/31/10 02:10 AM
Meeting of Creditors in a Bankruptcy Proceeding - What to Expect
Section 11 U.S.C. Section 341 mandates that the United States Trustee "shall convene and preside at a meeting of creditors". Despite the name of the meeting, there are very few creditors, if any, who bother to show up at this meeting! Also, for Chapter 7 and 13 cases, the United States Trustee generally is not present at the meeting of creditors. Rather, the United States Trustee appoints Chapter 7 and Chapter 13 trustees and one of them will be assigned to your bankruptcy case. Your assigned trustee is also the … (6 comments)
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