by Jeffrey Austin Just imagine buying a home and getting into financial trouble. You try to sell your home to no avail. So you decide to “wash your hands” and walk away. The home forecloses and all of sudden you’re served a judgment to pay thousands of dollars. This is what the new Arizona’s anti-deficiency statue addresses. The law which takes effect September 30, 2009 prevents a bank from going after the borrowers assets, such as cars and bank accounts once the home is foreclosed upon. The
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by Jeffrey Austin Arizona’s anti-deficiency statue prohibits a lender from recovering against borrowers assets, such as automobiles and bank accounts, after the lender forecloses on the borrower’s residence. However, the type of loan and type of residence are key factors in determining whether this statute applies. The requirements under the new law are as follows: single family homes or duplexes on 2.5 acres or less; must be utilized for dwelling purposes (occupied or partially occupied); a
FINTAG COMMENT Fund of Hedge Funds (FOHF). What are they good for? Well actually they are good for a lot of Hedgies and are huge investors. Without them the hedge fund industry would be half the size. Rumors were they would disappear post Madoff but not at all; they are just reinventing themselves. Its a game of survival as assets have plummeted. Pre Madoff (PM) a FOHF bought Pertrac, created an asset allocation methodology (equally weighted mostly), hired a few keen and eager due diligence
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(RTTNews) - Monday, the Indian market closed sharply higher amid strong global cues in anticipation of the U.S. government's plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions.
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