Facing Foreclosure in Northwest Arkansas
Falling behind on your mortgage is stressful, and it can feel like the decision has already been made for you. It hasn't. Until the day of a foreclosure sale, Arkansas homeowners usually still have choices: catching up on the loan, working out a new payment plan with your lender, or selling the home on your own terms.
Time matters. In Arkansas, most foreclosures happen outside of court, and the process can move faster than many people expect. The sooner you understand your options, the more of them you'll have.
Kendra & Co Realty helps homeowners across Benton and Washington Counties figure out what's possible and act before it's too late. Our Principal Broker, Kendra Murphy, is a Certified Short Sale Expert (CSSE) with more than 20 years of experience helping families through foreclosure, short sales, and other difficult real estate situations in Northwest Arkansas.
Every conversation is confidential, and there's no cost to talk. Call 479-236-4784.
How Foreclosure Works in Arkansas
Arkansas allows two kinds of foreclosure. Most lenders use the faster, non-judicial process under the state's Statutory Foreclosure Act, which means the home can be sold without a court case. Here's how it usually unfolds:
- Missed payments. After a payment or two is missed, your lender or servicer will start calling and sending late notices. This is the best time to reach out for help, because you have the most options.
- Pre-foreclosure notice. At least 10 days before starting a foreclosure, the lender must mail you a notice that includes information about loan modification assistance.
- Notice of Default and Intention to Sell. The lender records this notice with the county. The foreclosure sale can't happen until at least 60 days after it's recorded, and the notice is published in the local newspaper once a week for four weeks.
- Foreclosure sale. The home is sold at a public auction. A non-judicial foreclosure in Arkansas can be completed in as little as about 70 days after the notice is recorded.
- After the sale. After a non-judicial sale, Arkansas homeowners generally don't get a period to buy the home back. The lender may also have up to 12 months to sue for any remaining balance the sale didn't cover.
What this means for you: Under Arkansas law, you can usually reinstate your loan by catching up on what's owed any time after the notice is recorded and before the sale. Once the sale happens, most of your options are gone. If you've received a notice, don't wait.
Your Options When You're Behind on Your Mortgage
Every situation is different, and the right path depends on your income, your equity, and how far along the process is. These are the most common options:
Reinstatement
Pay the past-due amount, plus fees, to bring the loan current. This works best if the hardship was short-term and you now have the funds.
Repayment Plan or Forbearance
Your lender may let you spread the missed payments over several months, or pause payments temporarily while you get back on your feet.
Loan Modification
The lender permanently changes your loan terms, such as the rate, the length, or the payment, so it's affordable again. A HUD-approved housing counselor can help you apply at no cost.
Selling the Home
If you have equity, a traditional sale may let you pay off the loan and keep what's left. That's usually far better than losing it at auction. Timing and pricing matter, and that's where an experienced local agent makes the difference.
Short Sale
If you owe more than the home is worth, your lender may agree to accept less than the full balance. A short sale is usually less damaging than a foreclosure, and it lets you plan your move. Short sales require lender approval and careful negotiation, so it pays to work with a short sale specialist.
Deed in Lieu of Foreclosure
You voluntarily transfer the home to the lender. Lenders usually only consider this after other options have been tried.
We'll walk you through which options fit your situation. When an attorney or housing counselor is the right next step, we'll tell you that too.
Why Work With a Short Sale and Foreclosure Specialist?
- Certified Short Sale Expert (CSSE): Kendra holds this designation from the National REO Brokers Association.
- More than 20 years of experience: licensed in Arkansas since 2003, with a focus on probate, divorce, foreclosure prevention, and short sales.
- Local: we know Benton and Washington Counties, from Bentonville and Rogers to Fayetteville, Springdale, Bella Vista, and the Beaver Lake area.
- Discreet: your situation stays between us.
A Word of Caution About Foreclosure "Rescue" Scams
Be careful with anyone who asks for an upfront fee to "save" your home, tells you to stop talking to your lender, or asks you to sign over your deed. Legitimate help doesn't work that way. If something feels off, call us or a HUD-approved housing counselor before you sign anything.
Frequently Asked Questions
How long does foreclosure take in Arkansas?
Most Arkansas foreclosures are non-judicial. The sale can happen as soon as 60 days after the Notice of Default is recorded, and the process often takes about 70 to 120 days. That's why it's important to act early.
Can I still sell my house if I'm in foreclosure?
In most cases, yes. You can sell up until the foreclosure sale. If you owe more than the home is worth, a short sale may be an option with your lender's approval.
Is a short sale better than a foreclosure?
For many homeowners it is. A short sale gives you more control over the timing of your move, and it's generally viewed more favorably than a completed foreclosure. Ask your lender how any remaining balance will be handled, and get the answer in writing.
Will I owe money after a foreclosure?
Possibly. In Arkansas, a lender may sue for the remaining balance within 12 months after a non-judicial foreclosure sale. A real estate attorney can tell you how this applies to you.
Does it cost anything to talk with you?
No. Your first consultation is free and confidential.
Talk With a Foreclosure and Short Sale Specialist Today
The earlier you reach out, the more options you'll have. Call 479-236-4784, email kendra@kendra-co.com, or schedule a confidential consultation below.
Kendra & Co Realty · Kendra Murphy, Principal Broker, CSSE · Serving Bentonville, Rogers, Fayetteville, Springdale, Bella Vista, Lowell, Centerton, and all of Northwest Arkansas
Kendra & Co Realty is a real estate brokerage, not a law firm, and the information on this page is not legal or financial advice. For questions about your legal rights, please consult an Arkansas real estate attorney or a HUD-approved housing counselor.
How Kendra & Co Realty Helps
Trusted Resource
You don't have to figure this out alone. We connect you with the right people for your situation, including HUD-approved housing counselors, real estate attorneys, and title professionals we've worked alongside on distressed transactions throughout Northwest Arkansas.
Education
We explain the Arkansas foreclosure process in plain language: what each notice means, what your deadlines are, and what each option could mean for your credit and your future. You'll leave knowing exactly where you stand.
Expert Testimony
When a case involves the value or sale of a home, Kendra can serve as a real estate expert, drawing on more than 20 years of Northwest Arkansas market experience.
Selling the Home
If selling is the best path, we handle it from start to finish: pricing, marketing, negotiating with your lender on a short sale, and coordinating the closing, so you can focus on your next chapter.
