Know how AZ foreclosure law will affect you

Laws on foreclosure vary considerably by state, so you should be familiar with at least a summary of foreclosure laws in Arizona. You should also read your loan documents to know what your lender can do if you can't make your payments.

I recommend: ForeclosureS.com provides the contact information for the Attorney General’s Office in Arizona and links to specific legislation regarding foreclosure in Arizona.

Learn your Arizona foreclosure rights

There are housing counselors and online resources available to help you understand your options, assist you in organizing your finances and negotiate with your lender if needed to progress in your Arizona foreclosure recovery.

I recommend: Consumer Credit Counseling Service offers an online tutorial through its CredabilityU website to help you keep your home, as well as many other financial tips. DebtAdvice.org is a service provided by the National Foundation for Credit Counseling and allows you to locate housing counselors based on your zip code and search radius.

Retain one of the many Arizona foreclosure attorneys

You may need one of the many foreclosure lawyers in Arizona to protect your interests, especially if you need to sign documents. If your regular attorney does not handle Arizona foreclosure law, he or she may be able to make a referral.

I recommend: Rick D. Sherman is a small firm that only practices real estate law with specific experience in foreclosures. Rowley Chapman Barney & Buntrock in Mesa is a full service law firm that includes foreclosures in its practice area.

Watch out for mortgage recovery scams

The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like "guarantee" and "97% success rate", upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission.  The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.