What does Anti-Deficiency mean?
In Arizona, lenders who take a property back due to default may still collect on the note, should the security not be sufficient to repay the debt. This is done in the form of a deficiency judgment.
The term Anti-Deficiency is used to describe legislation that protects certain homeowners from a deficiency judgment.
It is important to understand that deficiency laws vary by state and are complicated. You should always consult a real estate attorney in your area before you act on any information.
