Summary of Arkansas' Foreclosure Laws

If you are facing foreclosure in Arkansas, it’s important to understand some of the basics, including:

the most common type of foreclosure procedure (judicial v. nonjudicial) used in Arkansas
how much time you have to respond
your rights and protections in the process, and
what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of Arkansas foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic	State Rule
Common type of foreclosure process	Nonjudicial: under power of sale in deed of trust
Time to respond	Foreclosing party must give homeowner at least a 30-day notice of default and intent to sell (up to 30 days longer if the foreclosing party mails the notice immediately after recording it). The foreclosing party must also publish notice in a local newspaper for four weeks before sale, and must post the notice at the courthouse and on any website where local legal notices are routinely posted.
Reinstatement of loan before sale	Allowed up to the date of sale
Redemption after sale	Nonjudicial: none allowed
Special protections for foreclosures involving high-cost mortgages	Arkansas Home Loan Protection Act is intended as a remedy against abusive lending practices for all loans on a primary residence, other than the first mortgage, that are for $150,000 or less. The Act is very technical but offers TILA rescission (see Ch. 7) as a remedy for an intentional violation as well as monetary damages. Ark. Code Ann. §§ 23-53-101 to 106
Special state protections for service members	Ark. Code Ann. § 12-62-718
Deficiency judgments	Allowed for difference between the lesser of indebtedness minus market value of the property and the indebtedness minus the sales price. Lawsuit must be filed within one year of sale.
Cash exempted in bankruptcy	About $11,000 for one person, $22,000 for a married couple under federal bankruptcy exemptions
Notice to leave after house is sold	State law does not specify an amount of notice that must be given before former owner can be evicted. Check with a resource (see Ch.10) to see what the general practice is where you live.
Foreclosure statutes	Ark. Code Ann. §§ 18-50-101 to 18-50-116