Redemption

The right of redemption allows a person to reclaim or “redeem” their property after a foreclosure by allowing the person to pay the outstanding mortgage balance (or sometimes the amount of the purchase price at the foreclosure) on the loan and most likely the costs incurred during the foreclosure process. This would essentially be the same thing as payoff of the note, the difference being that it occurs post-foreclosure rather than pre-foreclosure.

If all your state’s requirements are for redemption (NOT ALL STATES ALLOW FOR REDEMPTION) are met, and you make all the required payments, the purchaser of the property would either be required to unwind the foreclosure sale or to deed the property back to you.

The following articles discuss each state’s different laws and time limits for redeeming a property after a foreclosure.

South Dakota Redemption Law

Redemption is a process used by some states to allow a homeowner to redeem or “get back” his or her property after a foreclosure.  In most situations the homeowner must pay the entire amount of the sales price to redeem the property.  Depending on how much is owed on the property at the time of the […]

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Alaska Redemption Law

Redemption is a process used by some states to allow a homeowner to redeem or “get back” his or her property after a foreclosure.  In most situations the homeowner must pay the entire amount of the sales price to redeem the property.  Depending on how much is owed on the property at the time of […]

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North Dakota Redemption Law

Redemption is a process used by some states to allow a homeowner to redeem or “get back” his or her property after a foreclosure.  In most situations the homeowner must pay the entire amount of the sales price to redeem the property.  Depending on how much is owed on the property at the time of […]

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Vermont Redemption Law

Redemption is a process used by some states to allow a homeowner to redeem or “get back” his or her property after a foreclosure.  In most situations the homeowner must pay the entire amount of the sales price to redeem the property.  Depending on how much is owed on the property at the time of […]

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Wyoming Redemption Law

Redemption is a process used by some states to allow a homeowner to redeem or “get back” his or her property after a foreclosure.  In most situations the homeowner must pay the entire amount of the sales price to redeem the property.  Depending on how much is owed on the property at the time of […]

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