Real estate Q&A: How to deal with the foreclosure of the house by the bank

Real estate Q&A: How to deal with the foreclosure of the house by the bank (Alberta Times) Question: My house is about to be taken over by the bank for foreclosure? I took out 50,000 US dollars for the second loan...

(Alberta Times)

Question: My house is about to be taken over by the bank for foreclosure? I am still responsible for the 50,000 US dollars I took out for the second loan to start my business. If the first bank does not sell enough, am I still responsible? In addition, a friend told me that the bank cannot provide my original loan document (Promissory note). Is it true that as a protest, the bank cannot successfully collect my house? Answer: Arizona has an Anti-deficiency statute, which means that if the first bank is afraid of not being able to compensate you after selling your house, it can no longer trace the deficient part to you, but your second bank's part cannot be protected, and you are still responsible. Regarding your "Show me the Note" protest, at least 2 Arizona courts have held that it will not work, and the bank can still repossess your house.