Attorney General’s Office
1275 West Washington Street
Phoenix, AZ 85007
Tel: (602)542-5025
Fax (602)542-4085
www.azag.gov
Type of Document: Trust Deed
Types of Foreclosure:
Non-judicial: Most common in this state.
Judicial: Available, but not used often
Deficiency Judgment: Available under some circumstances
Redemption: None
Oddities: No deficiency possible for single family or
duplexes on 2 1/2 acres or less. In any case, the deficiency is limited
to the loan amount minus the fair market value of the property. The
winning bidder at the trustee sale has until 5pm the next day to pay
up. If the bidder fails to show, the second highest bidder gets the
property and has until 5pm the next day to close.
