SELLING SOMEONE'S REDEMPTION RTS - HOW DOES THIS WORK pros/cons?
I've run into selling assignable redemption rights on a fix/flip, I get different answers depending on who I talk to, and every state may be different, how does one navigate this space? What's the pros and cons? Where do I need to be careful and what should be clarified in the deal/contract?.
This is what I found in NM: Right of Redemption After Foreclosure in New Mexico. ... For both judicial and nonjudicial foreclosures, New Mexico law gives a borrower nine months to redeem the home after a foreclosure sale. However, the terms of the mortgage or deed of trust can reduce the redemption period to not less than one month.