The Arizona Foreclosure process and timeline varies depending on your lender and the attorneys working with your lender but will typically be something like this:

Before Your First Missed Payment – You should consider your options, seek professional assistance and develop a plan of action. Although some lenders will not be able to assist you at this point it is still a good idea to contact your lender and inform them of your intentions.

First Missed Payment Generally you will begin to receive collection phone calls around the 15th of the month of the missed payment.

Delinquent/Default Period – You are in default beginning the 1st day you do not pay your payments. There is no set amount of time that your lender has to wait by law to begin the foreclosure process once you have missed a payment. Most lenders wait until you are between 90 and 150 days late before taking the next step.

Notice of Sale – This is a document filed with the County Recorder listing the date and time that the lender intends to foreclose on the home. This notice must be filed no less than 90 days from the date that they intend to foreclose.

Trustee Sale – If you are unable or unwilling to work with your bank the trustee sale will take place and your home will be repossessed by the bank.

In today’s market the bank typically takes ownership of your property and then markets it using a local Real Estate Agent. Generally the new listing agent will come and speak with you regarding your options. The bank has the right to evict you if you do not vacate the property within the time period that they have allowed.
Arizona does not have a right of redemption so once your home goes to Trustee Sale you will lose the opportunity to pay the current amount due and keep your home. It is important to act fast regardless of what you choose to do.

If you are pro-active about your situation we can generally get your sale date postponed in order to market your property or negotiate an offer.