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Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
Rio Rico is located in Santa Cruz County, north of Nogales at the confluence of Sonoita Creek and the Santa Cruz River. [8] According to the United States Census Bureau, the community has a total area of 62.3 square miles (161.2 km 2), all land. [9] Rio Rico includes the site of the ghost town of Calabasas, Arizona.
There are also sites of the old Calabasas village, [1] Calabasas Store [9] (both now built over by modern development in Rio Rico) and the Santa Rita Hotel (once a fine hotel along the railroad line to Mexico), now a vacant piece of land near the old rail line and south of Sonita Creek, east of its confluence with the Santa Cruz River. [10] [11 ...
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