Hi, this is Megan Shaw, Broker and Owner at Signature Realty Solutions & Property Management. We are one of the top brokerages in Phoenix Metro area and our team specializes in short sales.
One of the big questions that we get on a daily basis from our sellers is, how long is the bank going to take to foreclose on our house? Well, in Arizona you have to be lived for a period of 90 days before they even file it on you and that’s the minimum. A lot of these banks today go even longer. With some of them, I have seen recently, go to the stretch 90 days and they file on the day 91, it just depends on your bank and your current situation. Once you are filed on, you have another 90 days before you actual foreclose your date, meaning the date you have to get out of your home. We have been very successful short sellers if we can get an offer within that minimum time period and present it to the bank saying that, “Hey look we are trying to do a short sale, we are trying to get this work for you”, then they will postpone the date 30 days at a time.
Give us a call we can talk about your current situation, my phone number is 480-299-1353 or you can check us out on our website at http://lostmyhomevalue.com/.
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