Arizona House Bill 2033

On April 5, 2013, Arizona Governor signed HB 2033.  HB 2033 takes effect September 11, 2013 and places additional requirements on the beneficiary to notify the County Recorder where the property is located with certain information concerning additional funds that were received in the form of Mortgage Insurance Premiums.  

11-1133 Affidavit of legal value

Each deed evidencing a transfer of title and any contract relating

to the sale of real property shall have appended at the time of recording an

affidavit of the seller and the buyer or their authorized agent who shall declare and certify specific information.

Section 33-811 Payment of bid; trustee’s deed

Within seven business days after receipt of payment by the Trustee or

The trustee's agent, made in a form that is satisfactory to the trustee, the

Trustee shall execute and submit the trustee's deed to the county recorder

for recording and shall, upon request, provide an unrecorded copy of the

signed trustee's deed to the purchaser.

The bill contains additional requirements and provisions that should be reviewed in detail by your legal counsel.

Here is a link of the complete House Bill 2033:
http://www.tdsf.com/documents/AZLegis/azHouseBill_2033.pdf

If you have any questions about the bill, or would like to review its details with us, please contact Linda Kidder at (714) 480-5640 or via e-mail through our company’s contact page at http://www.tdsf.com/contact.html.

Legislative Update

Senate Bill 558 Foreclosure Avoidance Bill

  

 

On June 4, 2013, John Kitzhaber, the Governor of Oregon signed SB 558 which expands and modifies the requirements in regards to the "Foreclosure Avoidance Measure" (mediation) program created by SB 1552 to include judicial and non-judicial foreclosures.

The statute affects residential trust deeds and becomes effective August 4, 2013. "Residential Trust Deed" means a trust deed on property upon which are situated four or fewer residential units, one of which the grantor, the grantor's spouse or the grantor's minor or dependent child occupies as a principal residence at the time of a default that results in an action to foreclose the obligation secured by the trust deed first occurs. Foreclosures initiated after August 4, 2013 require the beneficiary that intends to record a notice of default shall first request a resolution conference with the grantor. The request for a resolution conference must be made through the service provider electronically, by fax or by mail. The Service Provider website set forth in item (4) of the rules is http://www.foreclosuremediationor.org

 

The bill contains many requirements and other provisions that should be reviewed in detail. As of today's date, the Attorney General has posted "Draft" rules and forms on their website. If you wish to view the draft rules and forms, below is a link to the website:

http://www.doj.state.or.us/consumer/pages/foreclosure_mediation_rules.aspx

Here is a link to the complete bill SB 558:

http://www.tdsf.com/documents/ORLegis/ORSB558.pdf

If you have any questions about the bill, or would like to review its details with us, please contact Linda Kidder at (714) 480-5640 or via e-mail through our company’s contact page at http://www.tdsf.com/contact.html