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If you own residential property in Arizona and use credit...


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By the time the lien shows up you've already been sued and you lost.  

 

The article is written to presume that we should be outraged that someone is expected to repay a previous credit obligation that a court determined was valid before borrowing even more money from someone else to buy a new home.

 

Now, Hawkins says any time a debt collector gets a judgment against you it attaches to your home's equity - meaning they could walk away with the whole $200,000 you may have planned to buy your next place

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Homesteading was designed to preserve basic familial property. This overturns the basic theory of homesteading.

I'm not going to lecture others to pay their bills. They should, but circumstances arise and piling on punishment after punishment doesn't rectify the matter.

Edited by insolent1
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4 hours ago, insolent1 said:

Homesteading was designed to preserve basic familial property. This overturns the basic theory of homesteading.

 

ON THE SALE OF HOMESTEAD PROPERTY THAT IS SUBJECT TO A JUDGMENT LIEN, THE JUDGMENT CREDITOR SHALL BE PAID FROM THE PROCEEDS OF THE SALE AFTER THE HOMESTEAD EXEMPTION AMOUNT IS PAID TO THE JUDGMENT DEBTOR AS PRESCRIBED IN SECTION 33-1101  

 

https://legiscan.com/AZ/text/HB2617/id/2401920 

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..I have no problem with this (and yes I live in AZ & own property there) ...  people need to pay their bills....

 

or do it the legal way and file BK if you are eligible.

 

Or take out a HELOC or refi and do a cash out and pay your bills

 

Going into my favorite restaurant over the weekend, saw a line out the door of people at the 'title loan' aka payday loan place.. the people using those places dressed nicer than me and driving expensive cars.   and piling on more debt.

 

 

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