Save My Home by Right of Redemption?

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Can i save my home or prolong the auction date by right of redemption?


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I assume you are in a redemption state.  If you are not, you will not accomplish anything.

If you are in a redemption state, it will NOT prolong the auction date.  That will still occur, as scheduled, you will just have the statutory period of redemption ticking away before the formal sheriff’s eviction occurs.

What may be possible is to initiate a short sale process through a certified agent, to suspend/postpone the trustee sale.  This will have a lesser effect on your credit consequences.  Most lenders, particularly in redemption states, will be receptive to a short sale, vs. a foreclosure and waiting statutory periods.

I would recommend checking the CDPE.com web-site.  From there you can search for qualified, trained agents in your area, that can assist you with evaluating you options and avenues of relief.

Answered over 2 years ago
teamkime
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