If you are facing a foreclosure on your home in Arizona it is important that you become as familiar as possible with key features of Arizona foreclosure law. This article will discuss some of the Arizona rules regarding notices of the foreclosure and Arizona’s deadline to re-instate the mortgage before the sale. In respect of Arizona’s foreclosure laws and elements an attorney and spokesperson from the Pew Law Center provided comments. The attorney stated that “an Arizona foreclosure can be non-judicial, which basically means that the foreclosure happens outside of the court or it is judicial in that the lender filed a lawsuit with the state court so as to foreclose on the house”. 

Some of the key features of the Arizona foreclosure laws are summarized as follows:

Notice of the foreclosure - the trustee, who is a third party that administers non-judicial forecloses, start the process of foreclosure by recording a notice of sale in the county recorder’s office. The sale date must be at least 91 days after the notice of the sale date was recorded. The trustee must send a copy of the notice of sale to the borrower within 5 days of the date of recording. The copy is sent via mail and the mail must be sent either by registered or certified mail. A copy of the notice of sale must be sent within 30 days of the recording to:
-each person who records a request for notice prior to the notice of sale
-each person who appears on the records of the county recorder in which any of the trust property is situated.
The notice of sale itself must be posted at least 20 days before the sale in a conspicuous place on the property.
The notice of sale must be posted at a building that serves as a location of the superior courts in the county where the property is to be sold
The notice of sale must be published in a newspaper of general circulation in the county where the property is located at least once a week for four consecutive weeks with the last publication at least 10 days before the sale.

Reinstating
Reinstating is understood as when a borrower catches up on the missed payments including fees and costs so as to stop a foreclosure. In Arizona a borrower can reinstate up to 5 p.m. on the last day before the sale date, with the exception of a Saturday or a legal holiday.

In some states a borrower can redeem their home within a certain period of time after the foreclosure. However, in Arizona the law does not permit foreclosed homeowners to redeem their home after a non-judicial foreclosure. The attorney further stated that, to find key features of Arizona foreclosure laws and the citations to the statutes one can read the following:
Arizona revised statutes sections 33-721 to 33 to 730 (judicial)
Arizona revise statue section 33-801 to 33-821 (nonjudicial)
These statutes are available on the Arizona State Legislatures website. However, the attorney stated that for a simpler understanding of foreclosures and Arizona foreclosure laws, individuals can visit the Pew Law Video FAQ page with videos explaining various aspects of foreclosure matters.
For a free case evaluation individuals can visit bankruptcy attorneys Phoenix.

[b]About the company:[/b]
The Pew Law Center is a law firm that specializes in bankruptcy laws and provide assistance for persons who want to know how to file bankruptcy in Arizona.