Arizona Attorney Property Foreclosure
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FAQ
In Arizona, most foreclosures proceed via a non-judicial process governed by a deed of trust executed and recorded at the time of purchase. By electing this procedure, the lender may proceed with a trustee's sale without having to file an action in court.
Understanding Foreclosed Homes in Arizona Once the lender owns the home, they'll attempt to sell the house to recover their money. The first attempt to sell a foreclosed home is typically through a public auction, then through a real estate agent if the home doesn't sell at auction.
Foreclosure Process on a Deed of Trust in Arizona The deed of trust contains a borrower, a lender and a trustee, which is generally an attorney or escrow company. In Arizona, this means that a default on a deed of trust can be handled with the judicial process or it can be cured with a trustee's sale.
How Long Does the Typical Foreclosure Process Take in Arizona? Arizona lenders typically need between 90 and 120 days to foreclose on a property in a non judicial foreclosure process that is uncontested by the borrower.