Stop Mortgage Foreclosure: Arizona Lawyer Serving Tempe and Other Areas
Home is the place you can escape to when life's stresses weigh heavy on your mind. But, if you are at risk of losing your home to foreclosure, the feeling of comfort and safety you once felt at home can quickly be replaced with uncertainty, fear and dread.
At the Aguilar Law Firm, P.C., we help Arizona homeowners stop mortgage foreclosure proceedings. Talk to us today for help from a compassionate lawyer who can help get your finances back on track. Call 480-455-1881 or 602-252-4991 to arrange a free initial consultation.
Quick Facts About Arizona Home Foreclosure
The following are some quick facts about Arizona's foreclosure process and bankruptcy laws. Please contact our firm for more information and assistance from attorney Denise Aguilar regarding your specific situation.
- Lenders will typically wait 3-4 months from the last mortgage payment to begin foreclosure proceedings.
- A lender must set the foreclosure auction (also called the Trustee's Sale) at least 90 days from when they begin foreclosure proceedings.
- Notice of the Trustee's sale with the auction date should be provided to you at your home, but can also be found on file at the Maricopa County Recorder's Office at http://recorder.maricopa.gov/recdocdata (search by your name).
- If the mortgage is the one you incurred when you purchased your home and you have not refinanced or pulled equity out of the home, the loan may be subject to the anti-deficiency statute, which prohibits a lender from pursuing you for any amount unpaid after the foreclosure.
- In normal circumstances, you would have to pay taxes on any amount the bank writes off, but because of the Mortgage Forgiveness Debt Relief Act, the IRS will not count cancellation of debt as income through 2012 in most cases.
- Filing bankruptcy will delay a foreclosure auction, and may stop the foreclosure altogether in a Chapter13.
- A short sale may be an alternative to foreclosure, but make sure the bank will not pursue you for the difference between the loan amount and the sale price. Get it in writing.
- Modification is another alternative, but unfortunately banks have not been as cooperative as we would like in offering modifications.
- Some homeowners have had their homes sold at auction while the bank was processing their modification application or short sale approval.
We offer a free initial consultation. Attorney Denise Aguilar will meet with you to listen to your concerns and discuss how we can help stabilize your future.
Contact us online or call 480-455-1881 or 602-252-4991 to schedule an appointment.
Aguilar Law Firm, P.C.
4425 E. Agave Road, Suite 124
Phoenix, AZ 85044
Telephone: 480-455-1881 or 602-252-4991 | Fax: 480-621-3018