Are you a homeowner Late on mortgage payments?
Late on your monthly mortgage payments, and need help to avoid foreclosure in Arizona? We know it can be a stressful and overwhelming experience, but it’s essential to understand the process and your options. If you are late on mortgage payments and need Foreclosure Assistance in Arizona, then take some time to read this post to understand your options better. In this post, we’ll explain the foreclosure process in Arizona and explore some options available to homeowners facing this difficult situation.
Foreclosure Process in Arizona
Foreclosure is a legal process by which a lender repossesses a property when a homeowner fails to make mortgage payments. In Arizona, foreclosures are typically non-judicial, meaning they are handled outside of court.
The foreclosure process in Arizona starts when a homeowner misses one or more mortgage payments. After 90 days of missed payments, the lender will file a Notice of Default (NOD) with the county recorder’s office. The NOD is a public record that notifies the homeowner that the foreclosure process has started.
If the homeowner fails to bring the mortgage payments current within 90 days of the NOD filing, the lender will file a Notice of Trustee’s Sale (NOTS) with the county recorder’s office. The NOTS sets a date for the sale of the property at a public auction.
Homeowner Options
If you’re facing foreclosure in Arizona, there are some options available to you:
- Loan Modification: A loan modification is a change to your mortgage terms that can lower your monthly payments and make them more affordable. You’ll need to work with your lender to apply for a loan modification.
- Short Sale: A short sale is when the lender agrees to accept less than the full amount owed on the mortgage. The homeowner must find a buyer willing to purchase the home at a discounted price.
- Deed in Lieu of Foreclosure: A deed in lieu of foreclosure occurs when the homeowner voluntarily returns the property to the lender to avoid foreclosure. This option may adversely affect the homeowner’s credit score.
- Bankruptcy: Filing for bankruptcy can temporarily halt the foreclosure process and allow the homeowner to reorganize their debt.
If You Can’t Fix Your Foreclosure Situation
If you’ve exhausted all your options and are still facing foreclosure, you may be considering selling your house. We Buy Houses Arizona can help you in this situation. We specialize in buying houses in any condition and can close quickly, giving you the money you need to move on with your life.
We Buy Houses Arizona can offer you a fair price for your home, and you won’t have to pay realtor commissions or fees. Plus, we can close in as little as seven days, so you can move on to your next chapter without the burden of a foreclosure on your credit report.
Foreclosure is a difficult situation, but there are options available to homeowners in Arizona. If you’re facing foreclosure, carefully consider your options and contact We Buy Houses Arizona for help selling your house fast. With our experience and expertise, we can help you navigate this challenging time and find a way forward.
Why is selling your home better than foreclosure
Learn the valuable pros and cons of Foreclosure vs Selling Your House
Selling a house is not an easy decision, but sometimes it becomes necessary. In situations where you cannot afford your mortgage payments, selling your house may be the best option. If you are facing foreclosure in Arizona, it is essential to know that you have options, and selling your house to We Buy Houses Arizona is one of them.
Foreclosure is a legal process where your lender takes ownership of your property because you have failed to make mortgage payments. It is a stressful experience that can negatively impact your credit score for up to seven years. The good news is that We Buy Houses Arizona can help you avoid foreclosure and the negative consequences that come with it.
When you sell your house to We Buy Houses Arizona, you can sell your house fast and get cash home buyers in Arizona. This means that you do not have to worry about finding a real estate agent, listing your property, or dealing with potential buyers. We Buy Houses Arizona handles everything, and you can get cash for your property in as little as seven days.
Selling your house to We Buy Houses Arizona is a better option than allowing it to go into foreclosure. Foreclosure assistance is available in Arizona, and we are here to help. Please contact us today, and we will help you avoid foreclosure and secure cash for your property. We are A+ rated with the BBB, have 5 Star reviews, and have helped countless people for over 20 years by saving their homes from foreclosure.
Helpful Links:
Here is Arizona foreclosure information from ForeclosureLaw.org that explains the foreclosure process.
Informative article on how to avoid trouble paying your mortgage.
For more information or to schedule a 30-minute foreclosure consultation at no cost, please use the form below. If you can include some details about your situation, we can be better prepared for our call. Thank you!