There are two types of foreclosures; a judicial foreclosure and a non-judicial foreclosure. Only 13 states including Arizona process non-judicial foreclosures also referred to as a Notice of Trustee Sale. Lenders and Mortgage Companies still retain the right to process a judicial foreclosure but this type of process is more time consuming and costly. We will not discuss the process of a judicial foreclosure in the following information. We will only provide you with the process of a non-judicial foreclosure.
For a Trustee Sale to occur, a homeowner must be 90 days past due on their mortgage payment. On the 91st