AZ HB2327

Establishes comprehensive regulations for "equity purchasers" who acquire foreclosed or defaulted residential properties, requiring written contracts with specific disclosures in at least 12-point boldface type and a 5-business-day cancellation period.

Prohibits equity purchasers from recording deeds, transferring property interests, or paying consideration to sellers during the 5-business-day cancellation period, and bans false or misleading statements about property value, foreclosure timing, and contract terms.

Deems transactions with repurchase options or reconveyance arrangements as mortgage loans subject to state lending laws, requiring verification of seller's ability to repay and prohibiting unconscionable terms.

Requires equity purchasers in reconveyance arrangements to either reconvey title to the seller or pay at least 82% of fair market value within 120 days after the seller vacates, with detailed accounting of expenses.

Prohibits unlicensed persons from acting as "foreclosure consultants" offering to stop foreclosures or help homeowners, with exemptions for licensed professionals, nonprofit counseling organizations, and government agencies; violations subject to civil penalties up to $25,000 and criminal penalties.