A foreclosure occurs when a property owner can’t make payments on their loan, leading to the property being sold by the lender at auction. If you can no longer afford to make your mortgage payment, the most important thing to do is communicate with your lender(s). Simply walking away is not the answer. Foreclosures bring severe consequences, including:
Damaged Credit Rating
Lower Property Values
Difficutly Finding Alternative Housing Due to Bad Credit
Many Arizona Homeowners wonder if they have to vacate the property immediately after the Arizona foreclosure is started?
Answer: The filing process is the beginning of the foreclosure process, but it does not mean you must surrender your home and move out immediately. You should however communicate with your mortgage lender and let them know what your plans are. You do have options, including securing a loan modification, selling your home before the Trustee Sale among other avenues.
A foreclosure lowers your credit score and stays in your credit history for many years. It could be as much as 7-10 years. On top of that, most lenders even after the 10 years has passed will ask you if you have ever had a foreclosure in the past. Typically, a foreclosure will reduce your credit score by as much as 200-400 points. Again you do have options and just because the foreclosure process has started there are things you can to to stop foreclosure in Arizona. If you can work with your mortgage lender and/or sell your home before the Arizona Trustee Sale date then you can stop the foreclosure.
If we can help you with anything during this stressful time please give us a call. We specialize in stopping foreclosure in Arizona. Call us Today to Stop Foreclosure in Arizona (480)-788-0357.
We will make you a fast, fair offer on your house and provide you with a number of options. We charge no commissions.
We buy all types of homes in any condition for any reason. Here is part of what we offer.
No Fees, No Commissions, No Contigencies, No Hassle
We Will Pay Your Closings Costs For You
We Will Give You a Fair Price For Your Home
We Don't Want You to Do Any Repairs
We Will Buy Your Arizona Home "As-Is"
All Transactions Are Kept Extremely Confidential
Give us a Call Today at 480-788-0357 if we can be of any assistance.