Deficiency is the debt owed to the lender. Typically the amount that is owed after a home is foreclosed or vehicle is repossessed. Each state has different laws that protect their residents.

Trustee Sales or Foreclosure

What is a Trustee’s Sale or Foreclosure?


A trustee’s sale or foreclosure is the process that the lender may use when the loans are not paid or there is some other default of the original loan agreement.

The law of the state where the property is located controls the foreclosure or trustee sale process. The links to this page deal solely with Arizona law as governing Arizona real property.