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Mortgage Lawsuit Scam Hits Arizona
Posted on August 23, 2011 by
Judy Lowe, Commissioner, Arizona Department of Real Estate Advisory- During these challenging times, it is critical that all parties involved in the real estate industry are kept well informed as to any illegal misbehavior and/or activity. In a spirit of maintaining an open dialog with our licensees, the real estate industry and consumers, I am [...]
Continue Reading »Cloud Computing for Realtors
Posted on June 1, 2011 by Ed Pattermann
Real Estate Is Mobile Ed Pattermann presented a session on cloud computing at AAR’s Winter Conference in March 2011. We received such positive feedback about it that we asked him to share his tips with the full membership through this article. If you like to stay on the cutting edge of real estate in Arizona, [...]
Continue Reading »Agency Dilemmas
Posted on April 16, 2011 by Michelle Lind
Most people are aware that a real estate broker or salesperson (“Broker”) is an agent with fiduciary duties to the party that the Broker represents. This agency relationship is most often created by express agreement; however, an agency relationship can be legally implied by the parties’ actions. Regardless of whether the agency relationship is express [...]
Continue Reading »Mortgage Assistance Relief Services (“MARS”) Rule Definition of “Clear and Prominent”
Posted on March 27, 2011 by Michelle Lind
In textual communications, (which includes any communications in a written or printed form such as print publications or words displayed on the screen of a Computer): the required disclosures shall be easily readable; in a high degree of contrast from the immediate background on which it appears; in the same languages that are substantially used in the commercial [...]
Continue Reading »Revisions to the 2011 AAR Residential Resale Real Estate Purchase Contract
Posted on January 1, 2011 by
Overview The Residential Resale Real Estate Purchase Contract (“Contract”), Pre-Qualification Form and Loan Status Update (“LSU”)were revised/developed due primarily to changes in the Real Estate Settlement Procedures Act (“RESPA”) rules regulating the issuance of a Good Faith Estimate (“GFE”) to a buyer. The RESPA reforms require a property address before a GFE may be provided [...]
Continue Reading »5 Real Estate Scams You Need to Know About
Posted on October 1, 2010 by Melissa Dittmann Tracey
Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, [...]
Continue Reading »Owner of Home Not Entitled to Remove Fixtures after Foreclosure
Posted on January 15, 2010 by
ISSUE: After the foreclosure the owner removed an expensive leather couch and the dining room table. The owner also removed the drapes and the chandelier, which was a family heirloom. Was the owner of the home after foreclosure entitled to remove these items? ANSWER: After the foreclosure, the owner of the home is entitled to [...]
Continue Reading »Short Sale 2009
Posted on November 27, 2009 by Michelle Lind
The current housing market has resulted in a seemingly ever-increasing number of homeowners in default on their home loans. These homeowners often seek guidance from their REALTOR®. One of the many possible options to a homeowner in default on their loan is to attempt a short sale. A short sale is a real estate transaction [...]
Continue Reading »Neighbor Obligated to Construct Block Fence
Posted on September 15, 2007 by
ISSUE: Two neighbors share a common property line. On the common property line is a wooden fence in good condition. One neighbor has just purchased a large dog and wants to take down the wooden fence and construct a new block fence. The other neighbor is satisfied with the wooden fence. Does the other neighbor [...]
Continue Reading »The Sale of Manufactured & Mobile Homes By Real Estate Brokers
Posted on March 27, 2006 by Michelle Lind
A Department of Building and Fire Safety license is generally required to sell manufactured/mobile homes. Generally, a license issued by the Office of Administration of the Arizona Department of Fire Building and Life Safety (“DFBLS”) is required to act as a broker or salesperson in the sale of manufactured homes, mobile homes and factory-built buildings [...]
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