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What to expect during and after a Foreclosure in Arizona

After months and perhaps years of uncertainty your bank finally took the steps necessary to foreclose on your property. It might seem unreal at first. In the blink of an eye, or in this case, the spoken words of an auctioneer or judge, the place you called home no longer belongs to you. Regardless of what promises or assurances you may have received that your bank was willing to work with you on a loan modification, the cold reality now is that you are faced with being evicted. But what options do you have? Where do you go from here? The answer to those and many other questions depends on who now owns the home.
 
Did the home revert back to the beneficiary? The beneficiary is the bank who held the mortgage note. When a home reverts back to the beneficiary it means that no other individual placed a high enough bid to purchase the home at the foreclosure proceedings thus the bank now takes back possession. 
Did an individual purchase the property? Whether it's an investor looking for their next rental property or a traditional buyer looking to get a great deal on their next home, whoever has enough cash and is willing to ... more

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