The Arizona foreclosure  process is a non-judicial (No Judge) and simple procedure for your lender. Foreclosure is the legal process by which a bank can obtain legal title and ownership of your property. It relinquishes your interest in the property and waives any rights to the property and gives the courts the ability to legally evict the homeowner from the premises.

Every lender has a different time line, foreclosure process can begin a soon as a home owner is late with the one mortgage payment. If the payment is due on or before the first of the month and your 30 days late, the lender has every legal right to initiate foreclosure proceedings against the home owner

Most lenders will offer alternatives with a homeowner in default, before trying to foreclose a home. If a homeowner works with his or her lender, the lender has an additional three month grace period on average before Notice of Default (NOD) is issued. The NOD notifies the homeowner of the actual auction date. For more information on pre-foreclosure workouts with a lender, CLICK HERE.

If an alternative solution cannot be worked out, then foreclosure time line is quick because it does not have to go to court for the lender to foreclose.

In Arizona, a lender must appoint its trustee, which is the law firm who holds title and has the legal right to sell the home in a (Auction) trustee sale and handle the appropriate paperwork.