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Code · Arizona · Title 35 — Public Buildings, Works, and Improvements

35-707. Assumption of mortgage loans

83 words·~1 min read·/az/title-35/35-707

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Notwithstanding the provisions of any other law, a corporation may prohibit the assumption of any single family mortgage loan purchased by it in accordance with the provisions of section 35-706 and require prepayment of the loan if the person proposing to assume the loan or the single family dwelling unit to which the loan relates fails to meet such eligibility criteria relating to mortgagors or single family dwelling units, respectively, as may be established by the corporation as the purchaser of such loan.
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