Sunday, 19th of February 2012 at 10:41:21 AMMy initial impression was that it did not, it would only cover primary home or possibly a second home, but not the investment. The Phoenix Real Estate market has been a big target for this discussion. Some additional research led me to a leading Arizona Real Estate Attorney, Chris Comb and a recent blog post on the topic. As long as the property was used as a dwelling, meaning it had a home that was legal to live in, the law covers it. After Foreclosure there cannot be a Deficiency per State Law. I know that there is some campaigning going on to have some of these laws changed or adjusted so I would suggest you consult with an attorney before assuming anything that is significant in your life. While I don’t know Chris personally, I will say he talks a considerable amount on this and other Real Estate topics and would be one that I would contact and have referred clients to.
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