Pre-Foreclosure

Pre-Foreclosure equitable right of redemption

All homeowners, no matter what state they reside in, have the right to redeem their mortgages and save their homes from foreclosure by paying off the entire mortgage balance, plus fees and costs, prior to the foreclosure sale. Although most homeowners in foreclosure will find it difficult to come up with all the cash required to redeem in a lump sum, mortgages may also be redeemed by refinancing the mortgage debt or selling the home to a purchaser.