The Foreclosure Process

For many Americans, the downturn in the economy made it impossible to keep current on home mortgage payments. Unfortunately, this means that many homes have been foreclosed upon since 2008, with the number increasing daily.

Individuals who understand the foreclosure process may be able to save themselves from it. If you fear you may lose your home because you have fallen behind on your mortgage payments, contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, today at 480-829-0494 to learn more about your legal rights and options.

Understanding the Foreclosure Process

Depending on an individual’s lender, the foreclosure process may begin after just one missed payment. Typically, banks will warn their customers that they may have to foreclose upon their properties if they are not current on their payments.

• Demand letters, which state that foreclosure will begin soon
• Notices of default, which notify homeowners that the bank has started the process
• Notice of sale, which states when a home will be put up for auction

At any time during this process, individuals may be able to halt foreclosure proceedings by working with their banks to refinance their mortgages or by declaring bankruptcy.

Contact Us

When you are at risk of losing your home, you may have legal options available to you to help slow or end the foreclosure process. Contact the Arizona bankruptcy attorneys of the Harmon Law Office, LLC, at 480-829-0494 today to learn more about your legal options.