SB 1271 – Arizona Anti Deficiency Law – Newest Update
Updated 2:55pm 8/25/09
Legislature has moved to “sine die” the special session which, in English, means Governor Brewer has an additional 10 days to make a decision as to the bill. Bill HB 2008 is part of these bills that she has 10 more days to act on and this includes the repeal of SB 1271.
So we’ll wait it out another 10 days and see what happens. Let’s all keep our fingers crossed that the right decision to repeal SB 1271 is made!!
If the repeal of SB 1271 is important to you then I highly encourage you to send a quick note to Governor Brewer emphasizing your support for her signature on HB 2008 which will repeal the bill. Here is the link:
http://azgovernor.gov/Contact.asp
Also, please send us a note as well if you’d like up-to-the-minute information regarding this bill: Repeal SB 1271
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6 comments
Please repeal SB 1271. It is not fair.
Just talked to the Jan Brewer office, and we were told, we will have a commitment from her on Friday sometime. One way or the other!!!
Call her office at 602-542-4331 and voice your thoughts. Now
It is not fully an issue of being fair, but it is wrong. If they want to make a law like this they can do it. I do not agree with it, but for the people who own homes prior to the law being written they should be grandfathered into the old law. Then the realtors are going to need to revise their contracts after the law starts to make it very clear that you the buyer should be ware.
Please do not pass this bill. It will only hurt the economy worse. People are struggling as it is. Please there are other options we can go to. The passing of this will just force more people into Bankruptcy.
Dan – -This law was repealed Sept 4 at 1:20pm….it’s being challenged and I’m sure we’ll see some lending industry backlash but for now the skies are clear!
Sean, thanks, I did not know that! Let’s keep our fingers crossed!
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