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Arkansas Foreclosure Laws, Procedures, and Statutes

Here is a summary of foreclosure laws and rules for the State of Arkansas:

  • Both judicial and non-judicial foreclosure is available, but the non-judicial deed of trust sale is preferred.
  • Deficiency collection permitted after a judicial foreclosure.
  • After a non-judicial foreclosure the lender may sue the borrower for a deficiency' within one year.
  • When the property is foreclosed judicially, the borrower has one year from the date of the sale to redeem the property by payment of the amount for which the property was sold plus interest. However, the mortgagor may waive the right of redemption in a mortgage or deed of trust. In a non-judicial foreclosure there is no right of redemption.
If you are interested in reading the actual statutes relevant mortgage and foreclosure in Arkansas those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
Posted by Ralphmcd3 on Sat, 02/23/2008 - 21:38

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