Arizona Laws 44-1378.06. Fraud or deceit against homeowner; classification
Current as of: 2024 | Check for updates
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A foreclosure consultant who engages in any conduct that constitutes fraud or deceit against a homeowner in connection with a transaction that is subject to this article, including a foreclosure reconveyance, is guilty of a class 1 misdemeanor.
Attorney's Note
Under the Arizona Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 1 misdemeanor | up to 6 months | up to $2,500 |
Terms Used In Arizona Laws 44-1378.06
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Foreclosure reconveyance: means a transaction that involves both of the following:
(a) The transfer of title to a residence in foreclosure by a homeowner during a foreclosure proceeding by either:
(i) The transfer of an interest in the residence in foreclosure from the homeowner. See Arizona Laws 44-1378
- Fraud: Intentional deception resulting in injury to another.
- Homeowner: means the record owner of a residence in foreclosure at the time the notice of the pendency of an action for foreclosure or the recording of a notice of sale pursuant to section 33-808. See Arizona Laws 44-1378
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215