Stopping a foreclosure through a 'redemption' (paying off loan in full)

LIST Code

HO-08-02-00-00

Title

Stopping a foreclosure through a 'redemption' (paying off loan in full)

Definition

This category covers the option for a homeowner to 'redeem' their property within a certain time period in a foreclosure process, by paying off their debt or reimbursing the person who bought the property at the foreclosure sale. The options vary by state, about whether this redemption period is only before a foreclosure sale, or after the sale as well.

Other Taxonomy Terms

These terms in other taxonomies are equivalent to this term. They are mapped to each other.

• NSMI v1 Taxonomy: 1670200

Location in LIST