Arizona Foreclosures Time Frame

[CCsAreEvil]

I've been researching a lot about foreclosures and length of time it takes. I see some people are frustrated in trying to get lenders to hasten the foreclosure process. In other cases, the opposite.

Being in Arizona, it's one of the top 5 states for foreclosures at the moment.

My case is a Deed of Trust. It appears they already filed an Assignment of Dead of Trust to the primary lender CitiMortgage. Also, they appear to be swift with doing the Motion for Relief of Stay. My lawyer says the minimum now is 90 days til foreclosure. That's somewhat bizarre considering people saying they are staying in their homes for 1+ years. I was hoping this would be the case for us since we are in the mode of building up savings before we have to find a new place to live.

But at least, we "should" know that we have at least 90 days the moment we receive a Notice of Trustee Sale I suppose.

On another note, I was browsing on home sales in the Phoenix valley, and there are a TON of houses for sale! Of course, we'll need to find a place to live/rent. However, they are hardly any rentals! Holy crap! It must be a great market for home owners that have rentals. All these people walking away from their homes need a place to live.

[tobee43]

yes...you will get the 90 notice by law...

i think it just depends where you are....we vacated our house over 2 years ago and still chase has not foreclosed ...we have tried everything..we moved out of state...and yet can you believe after we surrendered the house...filed the mortgage was discharged...they wanted us to reaffirm...LOL!!

so....for us...it's apparently over 2 years and counting...now remember we are NOT living in the house...not that that should matter...one would actually think they would foreclose sooner on a vacate house than one that needed to be vacated??? i just don't know anymore...

[BreatheEasy]

My case is a Deed of Trust. It appears they already filed an Assignment of Dead of Trust to the primary lender CitiMortgage. Also, they appear to be swift with doing the Motion for Relief of Stay. My lawyer says the minimum now is 90 days til foreclosure. That's somewhat bizarre considering people saying they are staying in their homes for 1+ years. I was hoping this would be the case for us since we are in the mode of building up savings before we have to find a new place to live.

When did you stop making payments?

[tobee43]

we had never been late and were attempting to work with chase to actually keep our home at first....however, they, chase said to get a loan modification you need to stop paying your mortgage and be at least 3 months behind....

we reluctantly stopped then...and i began to save the money in case the mod didn't go through...thankfully, since it never did.

so i would say...we stayed in the house almost a year without paying before we voluntarily left...the day we left we were STILL waiting for our answer on our loan modification...but after the second of us lost their job we knew there was no way even a modification at this time would have worked for us. it WOULD have a year earlier...but not at that point...sorry....babbling!!

[tobee43]

My case is a Deed of Trust. It appears they already filed an Assignment of Dead of Trust to the primary lender CitiMortgage. Also, they appear to be swift with doing the Motion for Relief of Stay. My lawyer says the minimum now is 90 days til foreclosure. That's somewhat bizarre considering people saying they are staying in their homes for 1+ years. I was hoping this would be the case for us since we are in the mode of building up savings before we have to find a new place to live.

When did you stop making payments?

oh!! and i wanted to add we secured a place before we left and our entire credit was down the tubes...that way we had no problem getting a place...getting the utilities set up etc....