what is the redemption period after foreclosure
Submitted by homehuntress on Tue, 07/29/2008 - 6:52pm.
i have a buyer who is purchasing a foreclosure and is concerned that the previous owner of the home can redeem the home?
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Comments:
Hi Homehuntress,
This totall depends on the state and ranges from NO right of redemption to 1 year. In some states how the property was foreclosed on can also make a difference. For example in CA a judicial foreclosure (extremely rare) has a 1 year right of redemption whereas a non-judicial foreclosure has no right of redemption. Let us know which state, and any details you can about the foreclosure and we'd be happy to lookup the appropriate law.
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