Can someone explain FORECLOSURE to me?

Question:

Here is the arizona laws.. I am just wondering how long we have until we have to move out if the forclosure starts july 1st?

http://www.realtytrac.com/foreclosure_la...

THANKS!!

Foreclosure means that the person who owns the house either is more than 3 months behind on payments, or, have failed to pay their taxes.

If the lender has not been paid, they will re-take ownership of the house. The same with the tax collector.

As told to you in a previous post, no one knows how long before you have to leave. When the eviction notice is served, you'll have about a week.

You stopped making house payments so the lender is taking away your home. That is a foreclosure. As for when you must leave, when the Sheriff knocks on the door and kicks you out.

Can someone explain FORECLOSURE to me?

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