Arizona Bankers Association Fighting Repeal of SB 1271

The Arizona Bankers Association has filed a petition for a special session as they are declaring the repeal of SB 1271 “unconstitutional”.

We knew they would do something however I can’t believe they dug up something this ridiculous…wait a minute, yes I can.

These are the same people that ruled that the entire city of Mesa should be pursued for a deficiency if they were unable to pay their mortgage. (Mesa does not issue Certificates of Occupancy which were required under SB 1271)

Which, speaking of SB 1271 again, WAS REPEALED!!!

SB 1271 was a terribly written, poorly executed attempt to screw over the Arizona homeowner and it didn’t work!! So the Bankers Association has instead decided to try and find a legal loophole as it’s the only way they can get it revisited since it didn’t have any ground to stand on in the first place!

We’ll keep you updated as to the status of this petition and how it affects the Arizona homeowner, its effect on foreclosures and on Arizona short sales.

Related posts:

1. House Bill 2008 – Repeal of SB 1271 Arizona Anti Deficiency Law
2. Copy of HB 2008 – Repeal of SB 1271
3. Arizona Banking fighting homeowners
4. Arizona Anti Deficiency Law – SB 1271 – Explained
5. Brokers or Bankers?