Being subscribed to as many ARIZONA related threads as I can find thought it best to start an actual thread on the subject for everyone from this region to post. Makes it easier for anyone searching to find Arizona SPECIFIC information to help them on their journey.
And for everyone from our state (neighbors in other words) to be able to make this transition as easy and INFORMED as possible!
My husband and I decided to miss our first payment in June of this year. Don't know exactly where we are in the process but it doesn't seem like anything has happened except the NOI and lots of calls to (both) our cell phones and google voice number. We have atleast 3-4 more foreclosures going on within a 1 block radius in our neighborhood so we also don't know if because of that the banks won't slow one or more of them down to delay them all hitting the market at the same time. As of right now it seems that the foreclosure process in Az is taking about 6-7 months as evidenced by foreclosureradar.com website and what people from AZ have been reporting on this forum.
Also starting to look around for a place to rent and as a heads up it seems that people need to be careful when renting a new place that you don't rent from someone else who is walking from their property (your future landlord in other words) and who might WALK AWAY with all your DEPOSIT money !!!!!