MYTH: In doing a short sale, I’m at risk of a foreclosure at anytime.

TRUTH: This is simply not true. Its all based on the process of foreclosure, or in Arizona, the NON-judicial process of a trustee sale. If you are delinquent, the process of filing foreclosure happens through a notice of trustee sale. This generally happens when a homeowner is 90 days delinquent on their payments. So, what happens at that point, the lender will file a NOTICE OF TRUSTEE Sale, and then there is a 90 day clock that counts down to the actual trustee sale, which is consider foreclosure. The homeowner will know clearly when the sale date is set, if its set, and does not have to be concerned about any surprises.