A new law passed by the Arizona legislature allows homeowners to sell their homes without first waiting to see if they qualify for a mortgage modification.
It’s the latest move by Arizona lawmakers to try to rein in rising home prices.
The Arizona legislature passed SB1221 by a vote of 23-6, which would allow homeowners to apply for a modification of their mortgage.
That’s more than double the number of votes needed for a bill to be introduced.
But Arizona Gov.
Doug Ducey has warned against the move and has threatened to veto the bill.