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Arkansas Foreclosures

AR Foreclosures can be of Non-Judicial as well as Judicial types and the timeline for foreclosure is normally 120 days. In both the types of foreclosures according to the Arkansas foreclosure law it is compulsory to sell the property atleast at the two-third of the appraised value. But if no such bid is there then the resale of the property takes place withing the twelve months.

In case of judicial foreclosure in Arkansas, the court first of all declares the amount to the borrower and gives time for the repayment of the same. In case the defaulter does not pay the amount then the advertisement for the sale of the property is given. But if the sale of the foreclosed home does not take place equal to the due amount then the lender can capture another property from the borrower. That very home can then be redeemed within a year by paying the amount.

Arkansas foreclosures law consider foreclosure as non-judicial when the clause pertaining to the sale exists in the deed of trust or mortgage. In the judicial foreclosures pre-authorization to the lender for selling the home is given by the borrower in case of any default. Under this clause the place, time and term of sale are specified. After this the trustee according to the foreclosures laws in Arkansas, in the county's recorder office (where the property to be foreclosed is situated) record the notice of sale.

Then the mail of the same is send to the borrower withing the period of 30 days. Then the other persons who are listed in the trust of deeds should also be served with the same notice withing five days. Along with this the notice of sale should also be published in the county's newspaper in four consecutive weeks. If nothing happens from the borrower's side then the auction of the home is done in Arkansas.

Arkansas Foreclosures for Sale

AR foreclosures are now increasing in number with the lending crisis and increased mortgage rates. In majority of cases unemployment in between the payment of Home Mortgage Loan also causes the AR foreclosure to happen. Real estate agents and investors are also now interested in the foreclosed properties because these are available at less price than the normal. To know more about AR foreclosure keep check the other pages on foreclosed homes and listings in

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