Arizona Court Says Anti-Deficiency Judgment Protections Cannot Be Waived by a Borrower

Arizona Appellate Court decision (August 13, 2015).

This case involved issues pertaining to a deficiency judgment awarded to a lender following a judicial foreclosure proceeding. The trial court ruled that the property owner was liable to the lender for a deficiency following the foreclosure sale of the owner’s property in an amount in excess of $1,119,000 under Arizona Revised Statutes. The trial court also awarded the lender attorneys’ fees and costs in an amount that exceeded $250,000. The owner appealed the trial court’s determinations that: