Behind On Mortgage Payments? Know Your Options

Falling behind on a mortgage happens to good people: a job change, a medical bill, a divorce, an adjustable rate that reset. The most important thing is to act early. The earlier you move, the more options you have and the more of your equity you can protect.

Option 1: Get A Cash Offer

  • Tell us about the house and your situation
  • We review it quickly, usually within 48 hours
  • You get a written, no-obligation cash offer and pick the closing date
Get My Cash Offer →

Option 2: List It For Top Dollar

  • Have some time and a house in decent shape? Listing may net you more
  • Doug lists homes as a licensed agent with My Home Group Real Estate
  • We will tell you plainly which option fits your situation
Ask About Listing →

How The Timeline Usually Works In Arizona

Most Arizona home loans are secured by a deed of trust, which means most foreclosures happen outside of court through a trustee's sale. In general terms:

  • Under federal servicing rules, a lender generally cannot start a foreclosure until a borrower is more than 120 days behind.
  • Once a Notice of Trustee's Sale is recorded, Arizona law requires at least 90 days before the sale can take place.
  • Arizona generally lets you reinstate the loan by paying what is past due, plus allowed fees and costs, up until shortly before the sale.

Your Main Options

  • Call your servicer. Ask about forbearance, a repayment plan or a loan modification.
  • Talk to a HUD-approved housing counselor. Their help is free or low cost.
  • Sell before the sale date. If you have equity, selling lets you pay off the loan and keep the difference instead of losing it at auction.
  • Short sale. If you owe more than the house is worth, the lender may agree to accept less.

If a traditional listing fits your timeline, Doug can list the house as a licensed agent. If time is short or the house needs work, we can make a cash offer and close quickly. See also our page on avoiding foreclosure.

How It Works

  1. Tell us about the property. Fill out the short form or call 480-485-4261.
  2. We look at it with you. We review the house, the numbers and your timeline, usually within 48 hours.
  3. You get a written offer. No obligation. If it works for you, you pick the closing date and close through a local title company.

Other Situations We Help With

This page is general information, not legal, tax or financial advice. For your specific situation, talk with an Arizona attorney, a tax professional or a HUD-approved housing counselor.