Final answer:
In Arizona, the statutory redemption period after a judicial foreclosure is six months, allowing property owners a final chance to reclaim their property by paying the necessary dues.
Step-by-step explanation:
In Arizona, the statutory redemption period after a judicial foreclosure is six months. After a mortgage lender wins a foreclosure lawsuit, the borrower has six months to redeem the property by paying the full sale price and any additional costs incurred.
The redemption period provides a final opportunity for homeowners to retain their property despite a foreclosure judgement. This law aims to protect property owners and ensure due process.