Learn how the Arizona foreclosure process works, including preforeclosure steps, state foreclosure laws, and homeowner rights. A discussion of legal principles applicable to foreclosing mortgage liens in Arizona.In Arizona, a judicial foreclosure is a court procedure. The plaintiff must file and serve a complaint, among other things. Counsel for lenders should confirm the 120 day delinquency with the lender before taking any action to foreclose the secured loan. Secured debt is a loan where you have pledged an asset (most commonly a car or a house) as collateral. Federal law generally requires the servicer to wait until the loan is over 120 days delinquent before officially starting a foreclosure. As will be seen below, new Article 9 gives a secured party considerable flexibility with regard to satisfying a debt out of the collateral. Section 33-722 - Election between action on debt or to foreclose. On this page you will find answers to frequently asked questions about Arizona judicial foreclosure topics.