Legal Question in Real Estate Law in Arizona

Re: Property Forclosure

I agree with Donald Scher, but I would add that if you want to stop the foreclosure you should contact the lender to get the reinstatement amount. You can reinstate the loan until the day before the trustee's sale, but don't wait until the last minute as you might have difficulty contacting them.

Re: Property Forclosure

A property in foreclosure is still owned by you until the Trustee sale. If you pay off the loan with interest, penalties and fees, you will continue to own the property because you will have cured your default on the loan. If you are only able to pay the back payments, interest and fees, then it is usually up to the lender's discretion to waive its right to full payment of the loan and restore your loan status to satisfactory. There is no buy back.