Phoenix Short Sale VS Foreclosure

You're a Phoenix homeowner and you have stopped making payments on your home....Now what??? Most of our short sale clients will contact us after they have missed multiple mortgage payments and are concerned about a foreclosure date. As a Phoenix short sale specialist, I will educate them on the process once they have missed their payments. In Phoenix, all of the banks will have different timelines when foreclosing on a home but generally the timelines exist as follows:

****homeowner misses 3 payments and will be served with a NOTICE OF DEFAULT via hand delivery, posted, or certified mail.

***Once homeowner served with NOD, homeowner will have a 3 month redemption period and if the loan is not brought current, the home will be sold at auction to the bank or investor.

***If the home goes to foreclosure, the owner will be evicted within 30-60 days of auction date.

Each bank is going to follow different timelines, bigger banks usually are slower to react. However, these timelines are timelines specific to Arizona and can be enforced. If you are a homeowner and you have missed payments, contact us the Steve Horn Team, your Phoenix Short Sale Realtor and we will schedule a time to discuss your timelines.

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• Steve Horn- ShortSalesDoneEasy
• short sale
• foreclosure
• stop payments
• mortgage payments
• notice of default

[Michshnly]

Short Sale =  waste of time. Foreclosure get an answer in 4 days.