Learn how the Arizona foreclosure process works, including preforeclosure steps, state foreclosure laws, and homeowner rights. Two ways in which you can prevent a foreclosure are reinstatement and payoff.Most Arizona lenders provide defaulting borrowers with a demand letter before beginning the foreclosure process. A demand letter is not statutorily required. In a loan reinstatement, you need to find just enough cash. Documents with the court in the form of a "complaint. After missing the first payment, the lender will reach out via a letter or telephone. This form is a statement of final loan terms and closing costs. To request a payoff quote, please complete the payoff quote form. This form is intended for 3rd parties acting on behalf of Mr. Cooper customers.