Arizona Mortgage Assistance Programs


Arizona has taken the following action to address the mortgage crisis

The Arizona Foreclosure Prevention Task Force was formed in 2008 to help reduce the number of foreclosures and the impact they have on families and community. The task force’s goal was to prevent 4,000 foreclosures in 2008.

The state also established the Arizona foreclosure help hotline in May 2008. Homeowners can speak with a foreclosure counselor by calling 1-877-448-1211. Counselors will discuss your options, explain the foreclosure process and try to negotiate with your lenders to keep you in your home.

Lawyers Helping Homeowners provides help from volunteer lawyers to assist homeowners with their options regarding foreclosure, including working with the lender. Lawyers Helping Homeowners can be contacted athttp://azlawhelp.org/index.cfm.

Arizona Housing and Finance Resources

Key Contacts and Information

To find out more about help available to Arizona residents who are having trouble with their mortgages, please visithttp://www.housingaz.com/ShowPage.aspx?ID=248 .

Mortgage lenders are regulated by various state and federal organizations. If you feel that your lender or mortgage company has acted in violation of the law, you may lodge a complaint with one or more of the appropriate government entities:

Department Financial Institutions

  • (602) 255-4421, 1-800-544-0708,
  • consumeraffairs@azdfi.gov, http://www.azdfi.gov/
  • 2910 N. 44th Street, Suite 310
    Phoenix, AZ 85018

The DFI regulates state financial institutions, including mortgage lenders, banks, savings and loans and credit unions, among others. The DFI does not regulate any banks, savings and loans or credit unions with the term “national” or “federal” in their names. See below for organizations that regulate these institutions.

You may lodge a complaint by http://www.azdfi.gov/ , downloading the complaint form and submitting it to the department.

The DFI Consumer Affairs Division reviews all complaints against licensed entities or allegations of unlicensed activity.

If you believe you have been the victim of mortgage fraud, e-mail the Mortgage Fraud Line at fraudline@azdfi.gov.

Office of the Comptroller of the Currency (OCC):

The OCC regulates national banks, which are distinguished by the words “national” or “national association” or the initials “N.A.” Examples of national banks are Bank of America, N.A., City National Bank, Wachovia Bank, N.A., Wells Fargo Bank, N.A.

If you would like to file a complaint about a national bank, you may use the OCC’s online complaint form athttps://appsec.helpwithmybank.gov/olcc_form/(their preferred method), or you may mail or fax a complaint form accessible athttp://www.helpwithmybank.gov/complaints/complaint.pdf, or in Spanish athttp://www.helpwithmybank.gov/complaints/complaint_spanish.pdf The mailing address is:

  • Office of the Comptroller of the Currency
  • Customer Assistance Group
  • 1301 McKinney Street, Suite 3450
  • Houston, TX 77010-9050
  • The fax number is: 1-713-336-4301

Office of Thrift Supervision

The OTS regulates institutions with the word “Federal” in its name or the initials “FSB” (Federal Savings Bank) or “FSA” (Federal Savings and Loan Association).

The mailing address is:

  • Office of Thrift Supervision
  • West Region
  • P.O. Box 619027
  • Dallas/Ft. Worth, TX 75261-9027
  • 972-277-9500
  • Fax: 972-277-9501

National Credit Union Administration

The OTS regulates institutions with the word “Federal” in its name or the initials “FSB” (Federal Savings Bank) or “FSA” (Federal Savings and Loan Association).

The mailing address is:

  • National Credit Union Administration
  • 1230 W. Washington St., #301
  • Tempe, AZ 85821
  • Phone: 602-302-6000
  • Fax: 602-302-6024

Arizona ranks third among states based on the number of foreclosures from January 2009 through March 2009. The state has seen an 80 percent increase in foreclosures from the first quarter of 2008 and a 6.2 percent rise over the fourth quarter of 2008. Median home values have declined statewide. In the greater Phoenix area, the median price was $133,000 in February 2009, a 58 percent drop over February 2008. In Tucson, the median dropped from $200,000 in March 2008 to $165,000 for March 2009.


Related Articles