Foreclosures in Casa Grande AZ begin when borrowers get behind on their mortgage.
If you’ve started getting behind on your mortgage payments, then we hate to inform you that you’re well on your way to joining the list of foreclosures in Casa Grande AZ.
But first, you’d usually go through a series of steps before you come face to face with foreclosures in Casa Grande AZ.
The situation of foreclosed homes in Casa Grande AZ comes about as a result of homeowners breaking their repayment agreement with lenders and failing to reach an alternative arrangement for repayment, such as a loan modification with the lender.
The different repayment agreement options to avoid a Casa Grande foreclosure are stated in the promissory note homeowners sign at closing, as part of their mortgage commitment. These agreements usually differ by lender and jurisdiction. So homeowners must be sure to refer to their agreement for particular rules that govern their mortgage or pay attention to it at the moment of signing their closing agreement.
How long do you have until foreclosures in Casa Grande AZ are initiated
When it comes to the timeline for foreclosures in Casa Grande AZ, both judicial and non-judicial methods typically start the same way.
It starts with your first late monthly mortgage payment. Nevertheless, the lender may grant a grace period of up to 15 days after the due date to pay your mortgage.
If you fail to do so within the grace period, the lender may charge you a late fee and may go ahead to report your late payment to the credit bureaus.
Your mortgage account will get into default when you continue to miss your mortgage payments.
The number of days it takes to get here may differ from one lender to another. Some lenders may consider you in default when you exceed 30 days with no payment, while others may refuse to go beyond 15 days. They have a 15-day no-payment limit.
The next step would depend on what method of foreclosure your lender decides to go with. Foreclosures in Arizona are more often than not, executed with the non-judicial method. Most Arizona foreclosed homes were foreclosed using the non-judicial method of foreclosure.
But your lender may decide to go with the judicial method in the case of your Casa Grande foreclosure. However, this may be more unlikely, as the non-judicial foreclosures in Casa Grande AZ are faster and less expensive for the lender.
How Can You Stop the Foreclosure Process?
Stopping foreclosures in Casa Grande AZ from happening to you is very possible but you must be willing to take action quickly.
Until your house is scheduled for auction, you stand a chance to halt the Casa Grande foreclosure process. One helpful way you might be able to do that is to speak with your lender. The earlier you communicate to your lender, the better. Many homeowners do not like this option, as it may put them in an uncomfortable situation, but nevertheless, we still recommended this step to ensure that you check all boxes.
Financial problems are completely normal and your lender may be sympathetic to that. They may try to help you and ask you for your financial information or if you have any proof that you are going through extreme economic hardship. Nevertheless, you have another option.
Another helpful way out of foreclosure would be selling your house quickly and getting money from it or getting your cash buyer to negotiate favorable terms on your behalf with your mortgage lender. One puts money in your hand, while the other ensures that you walk away with no debts and no damage to your credit score.
This is a great option that many homeowners opt for especially if they smell an incoming Casa Grande foreclosure. At TGAZ investments, we buy foreclosure homes FSBO and we will pay cash or be happy to talk to your lender! We are also direct, so there are no fees or commissions.
We also buy as-is, so if you were worried about how to go about fixing the house and cleaning it up, you don’t have to worry about any of that.
We will buy the house and complete the process quickly. You’re sure of a fast close and no inspection or appraisal contingencies.
We will also save you thousands of dollars in extra fees and closing costs, and ensure that your home if taken off the list of homes marked for foreclosures in Casa Grande AZ.