AZ HB2624

Establishes a foreclosure mediation program in the administrative office of the courts, overseen by the Arizona Supreme Court, to provide mediation in superior court for nonjudicial foreclosures on owner-occupied residential property.

Requires mediation to address foreclosure issues including reinstatement, loan modification, and debt restructuring using Federal Deposit Insurance Corporation calculations and forms, with all mediation communications remaining confidential.

Mandates parties to participate in mediation with a court-assigned mediator trained in mediation law, mortgage assistance programs, and Federal Deposit Insurance Corporation procedures; beneficiary and trustee may participate by telephone but must have settlement authority.

Stays the foreclosure process and related court proceedings during mediation; all fees and costs remain frozen from the mediation date until the court records notice that program requirements have been satisfied.

Applies only to owner-occupied residential properties where a notice of sale has not been recorded before the effective date and expires July 1, 2023 under section 41-3102.