AvvoGoogle Business
Law Off of D.L. Drain P.A., Arizona Bankruptcy Lawyer | "Helping You Get Your Life Back on Track"
Law Off of D.L. Drain P.A., Arizona Bankruptcy Lawyer | "Helping You Get Your Life Back on Track"

AZ Foreclosure Articles & Links

Information about Arizona Foreclosures

AZ Foreclosure Articles & LinksSite Producer2025-09-05T09:20:27-07:00

What is a foreclosure?

When a borrower doesn’t perform their financial obligations, a lender may legally seize and sell a home or other property. This method is called foreclosure. There are various types of foreclosures in Arizona.

  1. The trustee’s sale procedure is the most used in Arizona. When the lender decides to foreclose on the borrower’s property, there are laws governing the process. Normally the trustee’s sale, in comparison to other processes, is cheaper and quicker (at least 90 days). In this method, there is no court involvement.
  2. The second process is a judicial foreclosure. This is a court procedure. Therefore, it is more expensive and takes longer. The advantage for the lender is that a deficiency action could be brought against the borrower or guarantor. The homeowners’ association (“HOA”), or those who purchased back taxes may also use this court process.
    • The sheriff’s sale comes after the judicial foreclosure. As was already mentioned, the process begins in court. The task of selling the property is then given to the sheriff. Lenders, HOAs, and investors in back taxes normally use this.

The following will explain a few of the fundamentals of Trustee’s Sale.

If you fall behind on your mortgage payments in Arizona, the trustee’s sale is one of the things your lender can do.  A judicial foreclosure is the second option. The trustee’s sale is often chosen because it lets the lender move faster and costs less than the judicial foreclosure.

Quick Links to Articles & Resources

Deficiency-Flow-Chart-6-20-1

Learn more about the Trustee’s Sale process by clicking on the following link.

Visit “Trustee’s Sale Process”

Our frequently asked questions includes many questions about: foreclosure rescue scams, the trustee’s sale process, if you have a VA loan, living in the property and excess sale proceeds.

Visit Trustee Sale FAQs

(As of May 28, 2018 this became permanent Federal law. Also see links at bottom to Arizona Landlord Tenant Act)

by Attorney Janet Portman Protecting Tenants in Foreclosure Act – Federal legislation signed in May 2009 gives important rights to tenants whose landlords have lost their properties through foreclosure. The mortgage industry crisis that started in 2006 has resulted in thousands — no, make that millions — of foreclosed homes. Most of the occupants are the homeowners themselves, who must scramble to find alternate housing with very little notice. They’re being joined by scores of renters who discover, often with no warning, that their rented house or apartment is now owned by a bank, which wants them out.

Read More by visiting

Tenants and Trustee Sales (foreclosures)

Visit Arizona Trustee’s Sales and Bankruptcy by Diane Drain

Property which is pledged as collateral on a debt will sometimes be surrendered to the creditor if the debtor is unable to make payments.

The rise in incidents of foreclosure of homeowner mortgages across the nation is but one aspect of this. Repossessions of cars and mobile homes are also common occurrences in the current economic environment. This article explores the income tax consequences to the borrower which may ensue from surrendering property to satisfy a debt. In general there are two tax aspects to consider: (1) recognition of gain or loss on the transaction and (2) recognition of cancellation of indebtedness (COD) income.

Read More about this by visiting the link below

Tax Issues in short sales, trustee and sales and foreclosures, by Robert Ciancola

Visit Investing in Post-Trustee Sale Properties

Visit “Sue on the Note or Foreclose on the Property – what is the difference?” by Stephanie Monroe Wilson. An Arizona attorney

Visit “Buying Tax Liens: Not an Entirely Gold Plated Investment“, by Chris McNichol, an Arizona Attorney

“Tax Lien Sales Winner for County (but not investors)“, by Mike Fimea, Arizona Business Gazette, February 19, 2004, volume 124

When deciding whether to fight to keep your home or let the lender foreclose, it’s important to know what the lender’s processes are.

How long before my house has equity?

Find out by using the calculator below. This tool will allow you to calculate when you will have equity in your home.

The principal and interest make up the majority of your mortgage payment. The main is the amount borrowed, while the interest is the fee paid to the lender. Your lender may additionally collect an additional sum each month to place in escrow, which the lender (or servicer) normally pays directly to the local property tax collector and your insurance provider.

Clients from all across Arizona have put their trust in us

Diane shows compassion and understanding to her clients.

“Diane shows compassion and understanding to her clients.” M.W. Diane provides educated and honest information throughout the entire process. She shows compassion and understanding to her clients. She was not my first attorney but took my case on in very short order. She cleaned up all of [...]

Diane was a the best choice we could have made

"Diane was a the best choice we could have made!" R.D. Diane was a the best choice we could have made when choosing our legal counsel. She is as much a teacher as a lawyer, always patient and willing to answer any questions no matter how small. She was [...]

You have help me once again attain the American dream

"You have help me once again attain the American dream…" J.R. I first met Diane Drain in September 2008 when she agreed to represent me in my Bankruptcy filing. It was a difficult decision for me as I had always had outstanding credit and prided myself on being [...]

Following her guidance help make the process as smooth as possible

“Following her guidance help make the process as smooth as possible” D.K. Diane is extremely knowledgeable about the whole process. Following her guidance help make the process as smooth as possible. Throughout the process she treated me with the upmost in respect and professionalism. [...]

She is an expert in her field and compassionate.

“Quality and compassion. ” S. She is an expert in her field and compassionate. She listens and provides good advice. She will help you resolve difficult circumstances. S.

I have a much clearer understanding of my choices and that has made the financial challenges much easier to deal with

I have a much clearer understanding of my choices and that has made the financial challenges much easier to deal with. T.P. Feeling the questionable unease of financial hardship can be one of life’s most serious challenges; not knowing where to turn for information, who to trust, [...]

She was more interested in my welfare than in charging a fee

She was more interested in my welfare than in charging a fee. L.B. I cannot tell you how grateful I am that Diane Drain took my call. I was desperate and she made me feel that I could sleep through the nite. She explained all my options [...]

Her knowledge and patience are a model that every attorney should follow

“Her knowledge and patience are a model that every attorney should follow” S.H. Diane Drain is one of the most incredible attorneys I’ve ever had the pleasure of knowing. She takes the time necessary with each client to provide expert advice. Her knowledge and patience are a [...]

Highly recommend Diane and Jay

Highly recommend Diane and Jay. C.T. Diane and Jay were not only very knowledgeable and patient, but they took time to educate me and point me to the resources I needed. Diane and Jay walked me through every step and worked with me through any confusion or [...]

Diane Helped me Maneuver the Process of Bankruptcy Through an Unusual Situation

“You can feel confident in her ability to provide you with any and all answers that may arise.  ” D.L. I can’t say enough about the professionalism for Diane Drain and Jay. She helped me maneuver the process of Bankruptcy through an unusual situation. I highly recommend Diane [...]

Thank you

“Thank you.” N.L. Thank you speaking with me and for the advice given. Wish I would have found you to begin with.

Diane and Jay are a wonderful team

"Diane and Jay are a wonderful team!" R & S Diane and Jay are a wonderful team. Efficiency and clarity were the hallmark of our experience.

We were provided affordable comprehensive representation.

“We were provided affordable comprehensive representation.”  R.B. I consulted the law office of D.L. Drain expressing our need to file bankruptcy having very limited resources. They accessed our situation and needs; educated us about bankruptcy options and ramifications. We were provided affordable comprehensive [...]

Wonderful attorney

“Wonderful attorney” Anon She helped us with our bk 7 years ago and not only did she do a wonderful job representing us she taught us a few things about money! We are doing great now with great credit scores, a new home and cars all within [...]

My wife and I would highly recommend this lawyer!

"My wife and I would highly recommend Diane Drain" B & D My wife and I would highly recommend Diane Drain to any one who is considering bankruptcy. She handled our case professionally and in a very timely manner. Diane and her team made a long, frustrating process [...]

Being of Service to Others certainly overshadowed any money motivation…in the end her expert consultation did not cost us any money.

“Being of Service to Others certainly overshadowed any money motivation…in the end her expert consultation did not cost us any money. ” G.G. Diane was great at coming to our rescue during very stressful times… Dianne and her team were always in good communication and they always [...]

She was very pleasant, knowledgeable and informative

"She was very pleasant, knowledgeable and informative" P.K. I live in Las Vegas and had a legal matter involving bankruptcy. My attorney in Las Vegas informed me that I would need an attorney from Arizona since the claim was filed in Arizona. I knew no one so [...]

I have followed your advice

"I have followed your advice." B.B. About 10 years ago you represented me in my bankruptcy and you were wonderful. I have referred a number of people to you, though I fear some of them did not have the ovaries for the follow through. I have followed your [...]

Beyond the Bankruptcy Paperwork: It’s Not Just Filling Out Forms, and Understanding The Attorney’s Role

Many people, including inexperienced attorneys, think that bankruptcy is simple. To quote a first-year law student on their first day in bankruptcy class, "It is [...]

Are you or a loved one experiencing financial hardship?

Help Yourself or Someone You Love
Share your info (or a loved one’s) below to receive clear, actionable steps today to begin the FREE Consultation process. Feel free to ask us anything along the way.

This field is for validation purposes and should be left unchanged.
Name(Required)
Consent to receive email(Required)

Information submitted through this form is used solely to respond to your inquiry. We do not sell, share, or use your information for marketing purposes. Submitting this form does not create an attorney-client relationship or mean that we represent you. Please do not include confidential or time-sensitive information.

Go to Top