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Does bankruptcy after home auction nullify my redemption period?
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What is an equitable right of redemption?
In a mortgage foreclosure process, the time between the foreclosure filling date and the auction sale is called the "Equity of Redemption Period". Once the home has been sold, most States grant a time period such as six months for the defaulting owner to repay the debt and fees. This is referred to as the "Statutory Period of Redemption".
Are there any options for you if your foreclosed home already has an auction date?
Unless it is possible to pay the monies owed to bring the entire delinquency amount current to stop the foreclosure sale, there are two other options. One option is to file bankruptcy, and the other is to allow the sale to proceed. Most states have a right of redemption period following an auction, but it requires the delinquency be paid up within a short period of time in order to reclaim the property.
Is there a list of statutory right of redemption states?
These are the states that do not have redemption period: The five states they list as having no redemption period are: Texas, Georgia, Virginia, DC, and New Hampshire The rest do have different time lines for redemption.
Can you live in your home during the redemption period in MN?
You can live in the house 6 months after the Sheriff sale. This is called the redemption period.
What is the redemption period for Virginia State?
There is no redemption period for the state of Virginia. http://www.realtytrac.com/foreclosure-laws/Virginia-foreclosure-laws.asp
Is there a redemption period in the state of Georgia for foreclosed homes?
In some states, a lender can seek a personal judgment against the debtor regarding the redemption period for foreclosed homes. In Georgia, there is no statutory right of redemption.
How long after a house goes up for auction do you have before you have to leave?
depending on your state. In Minnesota, you have a 6 month redemption period and if your not out by than or have not reclaimed your property, the mortgage company will have to evict you and that is another process which can take 30 or more days.
What is a redemption period?
The redemption period is the legal time period you have to redeem something that has been taken from you by operation of some law. For example, if your property is taken by your municipality for nonpayment of property taxes there is a period during which you can redeem the land by paying all your back taxes, interest and costs. In some cases there is a redemption period during which a property taken by foreclosure can be redeemed by paying all sums due including the costs of the foreclosure. Redemption periods may vary by jurisdiction. You need to check in your jurisdiction for the particular type of taking and its redemption period according to the laws in your jurisdiction. See related link for state by state information regarding foreclosure redemption periods.
What is the redemption period for Ohio?
The redemption period in Ohio is the time after the sale of the home and before it can get confirmed by the courts. The time will not exceed 30 days and any owing money must be paid before a property can be redeemed.
Which auction site has the most listings for a used table saw?
Ebay, just because it's the biggest auction site period.
What is the preference period on bankruptcy?
A preference period is based on the relationship that a debtor has with a creditor. The debtor cannot transfer money to non-insider creditors during a 90 day period before filing for bankruptcy. The preference period for transfers made to insider creditors can be increased up to one year.
What is an auction call?
An auction call is the option to call a securitized bond usually after a set time period or after the deal's assets have amortized substantially.
