Arizona Foreclosures for sale – Foreclosure Homes Listings

The Arizona foreclosures list is growing. Currently, Arizona like many other states is undergoing some hardships. Many of the problems are related to stingy lenders who lured homeowners into inflated loans, such as the subprime and jumbo loans.

Some of the other programs that are leading to Arizona foreclosures include unemployment. Like everywhere else in the world, Arizona is undergoing recession since many companies are moving overseas or else they are filing bankruptcy.

Other problems that caused many of the homeowners to lose their homes links to a rescue operation led by Winer. According to ABC News, Attorney Goddard is filling a lawsuit against this operation because it is believed that the company defrauded about 400 homeowners in the state. Thus, they lost their homes as a result.

According to the attorney general Winer, one of the rescue operation person’s “victimized” the homeowners that were faced with foreclosure. They were fraudulently offered assistance from this individual who claimed that they could keep their home.

It is said that Winer used public records to find his victims. He searched through public records to find homeowners who were on the distressed property consultants list. He claimed to stop foreclosures in 24-hours.

Court documents revealed that Winer as well as his associates persuaded the homeowners to give the deeds to their homes over to him. In return, he would take over the monthly mortgage payments. He claimed that he would pay off the delinquent amount owed. According to ABC News, Winer charged the homeowners monthly fees that estimated to the same amount of their mortgage payments.

He told them they could rent the property. City officials claimed that the lenders or services did not even notify the borrowers of their title transfer. Winer told the homeowners that if they meet all agreements they could repurchase their home for $15,000, according to ABC’s author Katrina Wessman.

Katrina said the terms on these schemes stated that if the renters missed one payment they could be evicted from their homes. The option to repurchase their homes would be null and void if they were evicted. According to reports, Winer sold the properties within a two-week timeline to investors. These investors were charged with paying commissions to Mr. Winer.

What a sad story for Arizonians. This greedy act led to 400 people losing their homes. Thus, the Arizona foreclosures is steady growing due to greedy lenders, fraudulent people like Winer, and the list goes on.