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Arkansas Foreclosure Listings

Arkansas sits along the banks of the Mississippi river and is generally considered to be a state where the population is a little more laid back and the pace of life is a lot slower. The major cities in the state are Little Rock, Fort Smith and Fayetteville in order of population from most crowded to least crowded.

Most folks that live in the state find that the slower way of life is one of the biggest pluses to buying and living there. The Hot Springs area is also a great area to visit because of the medicinal value of the mineral laden hot springs and what they can do to people’s aching bones.

The other big plus of the state is that most of the property values are low enough that practically anyone can afford to purchase property here. The land prices are low enough that what you might pay in a neighboring state for a half of an acre will buy you several acres of land with a fairly nice homestead on it.

Farming and other agricultural interests are the main form of income in most every area with exception of the larger cities mentioned above. In those cites there is a lot of retail and office work as well as industry. Though the bulk of the industrial interests tend to be along the Mississippi for obvious reasons.

Arkansas Foreclosure Listings here can take about four months to get through the system and the state uses both methods of foreclosure so there are a variety of things that can happen in a foreclosure here.

The Arkansas foreclosure laws allow for the right of redemption for the borrower in the case of judicial foreclosure only and the lender has a 12 month right of redemption provided that the non-judicial method of foreclosure is used.

The new buyer at foreclosure may purchase it on credit for 3 to 6 months, which allows them time to secure financing. If the buyer is paying in full and not financing, he or she has ten days in which to make full payment on the foreclosure.