Arizona Loan Modification Laws
- Currently, the State has no specific loan modification regulation although it does regulate credit service providers under Article VII of the Code, wherein specific disclosure, notice and contract elements are required. Attorneys are currently exempt from these requirements; however
- An emergency bill proposing loan consultant regulation is pending
- HB 2648 proposes to regulate foreclosure consultants, providing for rights of rescission and statutory notice requirements; Attorneys are exempt under this bill. (See http://www.azleg.gov/FormatDocument.asp?inDoc=/legtext/48leg/2r/bills/hb2648p.htm)
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