Foreclosure

questions & answers

Question: How do I foreclose on a property that has a breech of contract for a promissory notes that was secured by the home with a lien and one that was recorded last year? What is the process?

Answer: For a non-judicial power of sale foreclosure, the trustee must record a notice of sale in the office of the recorder of the county where the property is located. The trustee must send through certified mail, a copy of the notice of sale to every person who is a party to the trust deed. The trustee must then advertise the notice in a newspaper once a week for four consecutive weeks. The last notice must be published at least 10 days before the date of the sale of the property. A notice can be posted on the property itself if it is visible and can be done without a breach of peace. Notice can also be posted at the courthouse or a business of the trustee in the county where the property is located. If the deed of trust or mortgage has a power of sale clause and specifies the time, place and terms of sale, then the specified process must be followed. http://www.foreclosurelaw.org/Arizona_Foreclosure_Law.htm