Phoenix Foreclosure Laws & Lawyers

According to data from the City of Phoenix, another 1,100 homes were put on notice of foreclosure in March of 2009, bringing the total foreclosures on the market to over 21,000.  Phoenix homeowners are having trouble keeping up with their mortgage payments and are in dire need of help to avoid foreclosure.  The good news is that there is help available to stop foreclosure in Phoenix if homeowners react quickly and take action.

Phoenix Foreclosure Laws

Foreclosures in Phoenix are governed by the laws of the State of Arizona.  In Arizona, judicial foreclosures are rare and usually are performed on Mortgage documents found on homes purchased years ago.  Most often, a Deed of Trust is used as the main security instrument which allows a lender to perform a quicker, non-judicial foreclosure.  Here is a summary of Phoenix foreclosure laws:

Phoenix Foreclosure Timeline

If you are facing a foreclosure in Phoenix, you are most likely to experience a non-judicial foreclosure, meaning the courts are not involved in the public sale of the property.  Your lender will have begun the process of a non-judicial foreclosure by filing a notice of default and sale in the county records of Maricopa County.  From that point forward, the process moves expeditiously. 

Homeowners facing foreclosure in Phoenix have about 90 days from the public filing of the sale of their home in which they can redeem the loan and avoid foreclosure.  Once a sale publication has been published to the local newspapers and the owner, there is at least 40 days until the sale happens.  Before the final sale, an owner can stop foreclosure by paying all past due amounts, fines, fees, and legal costs.

Getting Foreclosure Help in Phoenix

Foreclosures in Phoenix happen at a faster pace than in other cities across America.  It is important for a homeowner who faces foreclosure in Phoenix to know that help is available.  In Phoenix, foreclosure lawyers who specialize in the foreclosure process are the best choice when seeking help.  But it is important for a homeowner to act promptly once a foreclosure has been filed.  With the right help and guidance from a certified foreclosure lawyer, a homeowner can avoid foreclosure of their home.

• If you may be facing foreclosure or already in the process, Consult Your Case for Free with a local certified Foreclosure Attorney in Phoenix to see your best options you have available to avoid Foreclosure.