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Market commentary

Insights on distressed real estate.

Commentary for trustees, asset managers, and lenders on foreclosure procedure, bankruptcy sales, and the distressed asset market.

Focus

Arizona distressed market

Reference

State foreclosure timelines
Reference

Foreclosure timelines in selected states.

Approximate statutory minimums and typical practice. Actual timelines vary with servicer practice, loss mitigation, and bankruptcy filings. Verify with counsel before relying on these figures.

StatePrimary processKey notice periodApprox. minimum
ArizonaNonjudicial trustee saleSale no sooner than the 91st day after the notice of sale is recorded~3 months
CaliforniaNonjudicialNotice of default, then at least 3 months before notice of sale, then about 20 days~4 months
NevadaNonjudicialNotice of default with a 3 month cure period, then notice of sale~4 months
TexasNonjudicial20 day notice to cure, then 21 day notice of sale~2 months
FloridaJudicialCourt action required before a sale date is setOften 6+ months