“With residential foreclosure filings still trending upward, the market should also be prepared for default on a number of commercial properties. It isn’t limited to the neighborhood strip mall or small retail shopping center, even large developments are falling at an rising pace.

The question is who sees this as a travesty, and who sees this as an opportunity! Banks and lenders are less inclined to approve a short sale on a commercial property, and even more reluctant to enter into a loan modification. However, they will certainly entertain the foreclosure process since the anti-deficiency judgment statute in Arizona will allow for recovery of the debt.

Now may be the time to learn how to bid at an auction on the courthouse steps, since the number of retail and commercial properties available at sale will only grow. Fidelity has classes designed to teach investors how to gather information on the foreclosure process, evaluate a property potential, and successfully bid on them at auction.

Feel free to contact Mary Frances Coleman, attorney and Manager of the Default Services Division at 480.214.4500 for more information.”

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Mary Frances Coleman
JDAVP/Default Services Division Manager
Fidelity National Title Insurance Company
60 East Rio Salado Parkway
11th Floor
Tempe, Arizona 85281
480.214.4559 (Direct)
mfcoleman@fnf.com