Arizona foreclosures are usually trustee sales outside court, on a fixed schedule, and Arizona’s anti-deficiency law protects many homeowners afterward.
What is different in Arizona
- The trustee must record and mail a notice of sale at least 90 days before the sale.
- Federal rules generally bar starting foreclosure until you are more than 120 days behind.
- Arizona’s anti-deficiency law generally protects owners of one- or two-family homes on 2.5 acres or less that they live in, so the lender can’t pursue the shortfall after a trustee sale.
- Investment properties and larger parcels may not have that protection.
- You can stop a trustee sale by bringing the loan current before the sale.
Questions
How long does it take to foreclose on a house in Arizona?
Often about four to six months from the first missed payment: federal rules delay the start until 120 days, then the notice of sale must come at least 90 days before the sale. See also: Mortgage loans in Arizona.
How many missed payments before foreclosure in Arizona?
Usually at least four, because of the federal 120-day rule, before the notice of sale can start the 90-day clock. See also: Foreclosure and buying again in California.
Do I owe money after a foreclosure in Arizona?
Usually not on an owner-occupied one- or two-family home on 2.5 acres or less. Other properties can differ, so ask an Arizona attorney about your situation. See also: Foreclosure and buying again in Ohio.
Related
- Credit recovery
- Behind on your mortgage: what happens and where to get help
- Home sale proceeds calculator
Foreclosure and buying again in other states: California, Florida, Ohio. All of Arizona: mortgage loans in Arizona.
