Maricopa County Foreclosures and auctions
Auction list for Maricopa County Foreclosures
Get a list daily of current Maricopa County Foreclosures. Maricopa County Foreclosures are like any other county foreclosures.
How the process works for Maricopa County Foreclosures:
1st – The owner of the property defaults on his mortgage by misses a scheduled payment. Now the bank needs to make the choice to foreclose on the property or wait for the homeowner to make his payments current or cooperate with them in doing a short sale. Typically we are seeing the banks wait about 90 days before taking any real action, however every bank is different and all that is required is that they obey the law. The banks goal is to get back as much of the money they loaned to the homeowner as possible. If the home owner is not communicating or paying his payments their is only one option for the bank, foreclosure.
2nd- For Maricopa County Foreclosures the bank publicly announce to the world that they intend to foreclose on any property, this avoids foreclosure happening without the owner knowing. At the same time they are making this announcement. they post a notice of default on the property and in a newspaper. From this date the bank has to wait 90 days before they can preform foreclosure auction sale. This allows time for the homeowner to reinstate the loan or make up any missed payments or clear up any unknown issues.
3rd- When the 90 days is expired the bank can finally foreclose by selling the property. This is tipically done by auctioning off the property at public auction. The bank can opt to stall or postpone the auction of the property to allow additional time for the owner to get back on track. This is where the opportunity is… Read more