How Long From No Payment To Foreclosure?

One of the questions we are often asked about the foreclosure process in Arizona is how long it takes from the time you quit paying your mortgage until the foreclosure actually occurs. When discussing "foreclosure" in a general sense in Arizona, what people are usually talking about is the most common foreclosure process, which is a non-juicial process called a Trustee's Sale.

Unfortunately, there is no way to accurately predict how long it will take an individual lender to initiate and complete a Trustee's Sale on any individual home. Technically, as soon as the loan is in default due to the failure to make timely payments the lender may start the process, but usually it takes much longer.

The USA Today recently ran a story reporting that the "average U.S. borrower in the throes of foreclosure hasn't made a mortgage payment in 17 months." Although that length of time seems to be more than the average we have seen in Arizona, which may be due to more complicated judicial processes in other States, we often see borrowers who have not made payments for more than 12 months, and sometimes more.

In Arizona, after default the lender must record and serve a Notice of Trustee's Sale at least 90 days before the sale, so even if the lender is moving fairly quickly it typically takes at least 6 months from first missing a payment to the home being sold.

If you have questions about the foreclosure process in Arizona, Harper Law has experienced real estate attorneys who look forward to working with you.