Arizona | M & I vs. Mueller – Appellate Ruling Says Actual Occupancy of Home is Not Necessary, Bars Lenderr from Pursuing Deficiency Judgement

Court: Statute also protects would-be owner

Appellate ruling says actual occupancy of home is not necessary

A would-be homeowner has the same right to walk away from a mortgage as someone who already is living in the house, the Arizona Court of Appeals has ruled.

The judges acknowledged that laws which bar lenders from pursuing borrowers for the difference between what the property is worth and the amount owed is reserved under state law for owner-occupied premises. And in this case the borrowers never actually moved in.

But Judge Patrick Irvine, writing for the unanimous court, said it is clear that Trevis and Lisa Mueller did intend to move in.

It was only when construction problems developed, Irvine said, that the couple decided to walk away from the home and the mortgage. That , Irvine said, gives them the protections of the law.

Rest here…

Copy of the ruling below…



M & I vs. Mueller

2 Responses to “Arizona | M & I vs. Mueller – Appellate Ruling Says Actual Occupancy of Home is Not Necessary, Bars Lenderr from Pursuing Deficiency Judgement”
  1. Ron Moss says:

    Chase lLeader reserves aspen motel for his daughter’s Bat misfa Needs to thank God even if he is a muslim. for the right tp use our money for his daughter.

    • lvent says:

      That is how they get filthy rich Ron..with other peoples money…no skin in the game.,..,all the risk is on the investors who are the U.S. TAXPAYERS and then the investors on the otherside of the coin..they play both sides of the coin…they and their investors insured their risk on the mortgages…we the people were the biggest losers in their game…our pension funds, 401ks and social security money is gone…..they and the corrupt politicians stole it all…along with our jobs and millions of homes…the people who still have jobs are paying for some of the missing money…..but as the economy worsens and more jobs are lost the truth will be revealed…this ponzi scheme is a failure because of traitors from within who allowed the biggest robbery of our wealth in history..the failure of MF GLOBAL proves no one is safe when they can gamble with your money in secret…just like what ENRON did with algarithms and speculation…all smoke and mirrors……if the ceos…..had to match their investor risk…the bets would be a lot less risky..they gamble with other peoples money on anything you can imagine unregulated…

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