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Concerned Fr…, Other/Just Looking in 63125

does anyone know what the AZ laws are for a mortgage company to foreclose?

Asked by Concerned Friend, 63125 Tue May 19, 2009

I have a friend who is going into his 2nd month behind on mortgage payment, he has has 2 paycuts and can no longer afford the property - he has tried to contact the bank to no avail - he gets phone calls every other day from India - outsourced Indy Mac representatives asking when he plans on paying his mortgage - he is mentally and emotionally drained - he is terrified that the sheriff will show up at his door and tell him and his wife and new baby to get out. Please help with any info that you can
Thank you
God Bless

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It take a little while to a bank to process a foreclousure, depends of how many are in your area. Some times you need to receive three notificatios, before the sheriff arrives, those notificatios are 4 month apart each other.
Also during this time you can retent your home try to do a modification, the foreclousure precess will slow down, when you take action. try to sale your home, or try to negociate a short refinaciation. There are plenty of thing that you could do. but do not wiat for the sheriff. Take action.
0 votes Thank Flag Link Tue Sep 29, 2009
It take a little while to a bank to process a foreclousure, depends of how many are in your area. Some times you need to receive three notificatios, before the sheriff arrives, those notificatios are 4 month apart each other.
Also during this time you can retent your home try to do a modification, the foreclousure precess will slow down, when you take action. try to sale your home, or try to negociate a short refinaciation. There are plenty of thing that you could do. but do not wiat for the sheriff. Take action.
0 votes Thank Flag Link Tue Sep 29, 2009
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