A Call from the Arizona Attorney General’s Office

Randy cooney color
By P.R “Randy” Cooney
in collaboration with
Faith McLoone


As the publisher of the Journal, I frequently receive calls from both local and national organizations with requests to print a story about the launch of a product, a new business development and other related “news” that may be occurring within our industry. Recently, a woman named Faith McLoone, from the Attorney General’s office, called my office and asked for me by name. Of course when she said “Attorney General’s office” in her introduction, I was all ears while trying to determine what could the AG’s office possibly want of me.  Could it be that my past was finally catching up, as in, my childhood library fine of 1969.   I was relieved to find out that Mrs. McLoone was simply calling to provide some valuable information for Arizona homeowners currently struggling to make their mortgage payments.  After a very positive conversation, she sent me the following information that I wanted to share with you.

The Attorney General’s office has a wide range of statewide assistance programs funded through the national mortgage settlement that could benefit someone facing challenges to pay their mortgage. They include:

•   Zero interest, forgivable loans from AZ Mortgage Relief Fund to help with past due payments as a result of a hardship, principal reduction or refinance when a loan is going to become unaffordable due to a hardship or an interest rate increase.

•   Foreclosure prevention and financial literacy counseling by HUD-approved housing counselors

•   Free legal help with mortgage related issues for people at risk of or impacted by foreclosure

•   Job training and employment services for people who lost their home or were evicted due to foreclosure

•   Funds for veterans with service connected disabilities who can’t afford to make accessibility improvements and maintain their mortgage payment. This feature is coming in August 2014.

Although the economy has come a long way with a significant downturn of foreclosures in our state over the past couple of years, there are still a number of people that are in hardship situations as a residual to the crash. As real estate professionals, we come across many situations when dealing with the public.  I found this information to be a good resource. More information can be found on www.arizonamortgageresource.org or 1-855-256-2834.