Updated about 10 years ago on . Most recent reply
Right of redemption
I've been doing my research and have learned that even after buying a foreclosure at auction some state laws give the original homeowner the "right of redemption" to claim their house back if they come up with the funds. Up to 6 months! Does this rule apply in foreclosure auctions in California??
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Ron S.
#3 Foreclosures Contributor
#3 Foreclosures Contributor
- Paradise, CA
No. Well, mostly no. Foreclosures in California are by the power of sale clause, meaning a non judicial foreclosure. No courts involved. IF the foreclosure is judicial, (99.99% aren't) then a borrower may have a redemption right. I would not worry about a redemption period in California. It's more urban legend than reality.