Withdrawal Of Lis Pendens Form For The Foreclosure Process In Phoenix
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Deeds in lieu of foreclosure are restricted in their use by the fact that the mortgagee takes the property subject to any items of record against the property, including any judgment liens, tax liens, or junior liens the borrower may have given third parties subsequent to its transaction with the lender.
In Arizona, the trustee starts the foreclosure process by the recording of a notice of sale in the county recorder's office. The notice must include the date, time, and place of the sale. The sale date can't be sooner than the 91st day after the notice of sale's recording date.
Basically, a Lis Pendens is written notice that's recorded in the county recorder's records where the real estate is located and that gives notice than an action, a lawsuit involving title to the real estate is pending.
If you are unable to make your mortgage payment: Don't ignore the problem. Contact your lender as soon as you realize that you have a problem. Open and respond to all mail from your lender. Know your mortgage rights. Understand foreclosure prevention options. Contact a HUD-approved housing counselor.
Under the Protecting Tenants at Foreclosure Act of 2009, if a property is foreclosed on, the new purchaser has to give the tenant of the property (if the tenant isn't the former owner of the property) at least 90 days notice to vacate the property.
Some states also provide foreclosed borrowers a redemption period after the foreclosure sale, during which they can buy back the home. Arizona, however, doesn't have a law permitting the former owner to redeem the home after a nonjudicial foreclosure. (Ariz.
Answer: After a judicial foreclosure in Arizona, the debtor or his successors in interest ordinarily may redeem at any time at any time within six months after the date of the sale (A.R.S. 33-12-1282).
Other than resolution of the pending lawsuit, the only way to remove a lis pendens is by expungement, which requires a court order from a circuit judge. If you refuse service or the action is otherwise delayed, the lis pendens remains intact, making it difficult to sell or otherwise transfer a property.
In Arizona, the trustee starts the foreclosure process by the recording of a notice of sale in the county recorder's office. The notice must include the date, time, and place of the sale. The sale date can't be sooner than the 91st day after the notice of sale's recording date.
