redemption period

What Does Foreclosure Redemption Mean?

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What Does Foreclosure Redemption Mean? The right of redemption allows individuals who have defaulted on their mortgages the ability to reclaim their property by paying the amount due (plus interest and penalties) before the foreclosure process begins, or, in some states, even after a foreclosure sale (for the foreclosure price, plus interest and penalties). What

What Is The Redemption Process?

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What Is The Redemption Process? Redemption is a period after your home has already been sold at a foreclosure sale when you can still reclaim your home. You will need to pay the outstanding mortgage balance and all costs incurred during the foreclosure process. Many states have some type of redemption period. What is redemption