Arizona has the third highest negative equity – with approximately 22% negative and 4% near negative equity.

The other day a caller said “I used a document preparer or bankruptcy petition preparer. Certainly they have obligations to keep my social security number confidential?” Unfortunately I had to say “Oh how wrong you are.”

What is the status of foreclosures?

Across the nation property values are on the increase.  Each state is seeing a different percentage of turn around, but each state is seeing some positive results.  “CoreLogic …just released new analysis showing approximately 791,000 more residential properties returned to a state of positive equity during the third quarter of 2013, and the total number of mortgaged residential properties with equity currently stands at 42.6 million. The analysis indicates that nearly 6.4 million homes, or 13 percent of all residential properties with a mortgage, were still in negative equity “upside down” at the end of the third quarter of 2013. This figure is down from 7.2 million homes, or 14.7 percent of all residential properties with a mortgage, at the end of the second quarter of 2013.”


In an effort to look at the glass as half full – I am happy that property is once again appreciating in value.  My concern is that most of the HELOC (home equity lines of credit, or second loans on the home) come due starting in 2017.   Most likely the maturity of these loans will result in another wave of defaults.  This will result in additional foreclosures because the homeowner cannot sell their home due to the total debt.

Diane L. Drain

We have several videos on this site.  Below are a few:

  • Should I keep my house or let it go to foreclosure?
  • What Are the Lenders Foreclosure Rights in Arizona?
  • Options in Bankruptcy, with Notes on Getting Help
  • Suggestions on How to Hire an Attorney