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Arizona Foreclosure

Arizona Foreclosure - Phoenix, Scottsdale, Glendale, Peoria, Tempe, Mesa, Avondale, Surprise

You don’t have to lose your home to foreclosure.¬† The Merna Law Group¬†can help.
Arizona law provides many options to homeowners faced with foreclosure:

Negotiated repayment: The payment of the past-due amount can be negotiated. These agreements provide flexibility in the time to repay the loan and may evan reduce the amount repaid. A Negotiated Repayment usually requires a forbearance agreement between you and the lender, and effectively stops any foreclosure action as long as the terms of the agreement are kept.

Loan Modification: These agreements change the terms of the old mortgage. Frequently, the interest rate can be modified and the delinquent amount of the loan added to the outstanding amount.

Partial Claim: In these agreements, the delinquent amount is used to create a second mortgage with no payments or interest made until the loan is paid off.

Deed In-Lieu: This is an arrangement where the borrower signs the deed to the lender to refinance the home and avoid foreclosure.

Pre-Foreclosure Sale: The home is appraised, placed on the market with a realtor, and sold within 3 months, even if short of a full payoff.

Chapter 13 Bankruptcy Organization: Take the amount you are behind on the mortgage and repay it over a three to five year period.


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