The Right of Redemption

Find out whether your state allows homeowners to redeem the property (buy it back) after foreclosure.

The right of redemption is the right of a homeowner to either stop a foreclosure or keep the house after a foreclosure by paying a specific sum of money within a limited period of time.

Depending on state law, homeowners in foreclosure might have two separate rights of redemption: a preforeclosure equitable right of redemption and a post-foreclosure statutory right of redemption.

The Equitable Right of Redemption

All homeowners, no matter what state they reside in, have the right to redeem the property and save a home from foreclosure by paying off the entire mortgage balance, plus fees and costs, prior to the foreclosure sale.

The Statutory Right of Redemption

About half of the states have a law that gives homeowners the right to redeem the home for a period of time after the foreclosure sale—typically by paying the foreclosure sale price, plus interest and other allowable fees—to the foreclosure sale purchaser.

If a home sells at a foreclosure auction for a price far below its fair market value, the homeowner might be able to recoup the equity by redeeming the property for the foreclosure sale price, selling the home to a buyer for the fair market value, and keeping the difference.

State Laws Regarding the Right of Redemption

Each state has its own laws governing a homeowner’s right of redemption. Find your state in the list below to find out whether you have the right to redeem your mortgage after the foreclosure sale and what restrictions might apply.

STATE

MOST COMMON METHOD OF FORECLOSURE

DO BORROWERS HAVE A STATUTORY RIGHT OF REDEMPTION?

Alabama

Nonjudicial

Yes, generally available for one year after foreclosure sale. But if the loan originated on January 1, 2016, or after, a homestead exemption was claimed in the tax year during which the sale occurred, and proper notice about the right to redeem was given at least 30 days before the sale, then 180 days after the sale. If notice not provided before the sale, the redemption period doesn't start until the bank provides notice about the right to redeem, but homeowners can't redeem, under any circumstances, more than one year after the foreclosure sale. Borrower must surrender the property to the buyer within ten days after a written demand is made or lose the right of redemption.

Alaska

Nonjudicial

Not after nonjudicial foreclosure unless the deed of trust specifically provides a right of redemption.

Arizona

Nonjudicial

Not after nonjudicial foreclosure.

Arkansas

Nonjudicial

Not after nonjudicial foreclosure.

California

Nonjudicial

Not after nonjudicial foreclosure.

Colorado

Nonjudicial

Available to some lienholders but not to the borrower.

Connecticut

Judicial

Not after strict foreclosure, where the court transfers ownership of the foreclosed home directly to the foreclosing lender. (Law Day is the last date to redeem. Strict foreclosure is most commonly used in Connecticut). In a foreclosure by sale, the homeowner can redeem up until the court approves the sale.

Delaware

Judicial

Only up until the court confirms the sale.

District of Columbia

Nonjudicial

No.

Florida

Judicial

Yes, until the court clerk files the certificate of foreclosure sale or the date specified in the foreclosure judgment, whichever date is later.

Georgia

Nonjudicial

No.

Hawaii

Judicial

No.

Idaho

Nonjudicial

No, not after a nonjudicial foreclosure.

    Illinois

    Judicial

    Yes, available for seven months after the complaint is served or three months after foreclosure judgment entered, whichever is later. If the mortgage holder is the purchaser at the sale, property sold below a certain value may be redeemed for 30 days after confirmation of sale by paying sales price plus costs and interest.

    Indiana

    Judicial

    Yes, after foreclosure judgment but before foreclosure sale by paying amount of judgment plus costs and interest. Not after foreclosure sale.

    Iowa

    Judicial

    If foreclosure is judicial with redemption, the borrower can redeem the home within one year, six months or three months (if the lender waives the deficiency in the foreclosure action and other criteria are met), or 60 days (if the borrower abandons the home and other criteria are met). If the lender elects to foreclose without redemption, the borrower can demand a delay of sale and redeem before the sale (no post-sale right of redemption). Post-sale redemption not available for alternative nonjudicial voluntary foreclosures

    Kansas

    Judicial

    Yes, within 12 months after foreclosure sale; court may shorten redemption period if property is abandoned. If less than one-third of mortgage was repaid, redemption period is three months; redemption period may be extended if borrower loses primary source of income after foreclosure sale. If outstanding mortgage debt is less than one-third of property’s fair market value, redemption period is twelve months.

    Kentucky

    Judicial

    Available six months after sale, if sale amount is less than two-thirds of property's appraised value.

    Louisiana

    Judicial

    No.

    Maine

    Judicial

    Yes, 90 days from the date the foreclosure judgment is entered, unless borrower appeals.

    Maryland

    Nonjudicial

    Available until the foreclosure sale is ratified by the court.

    Massachusetts

    Nonjudicial

    Not after nonjudicial foreclosure.

    Michigan

    Nonjudicial

    If the property is not abandoned and more than two-thirds of the original mortgage is still owed, redemption allowed for six months. If less than two-thirds is owed, the redemption period is one year. If the property is abandoned, the redemption period is one month.

    Minnesota

    Nonjudicial

    Yes, for most borrowers, within six months or one year after foreclosure sale, depending on the circumstances. Five-week redemption period for abandoned properties and if borrower postpones the sale under Minnesota law. The redemption period is 12 months under certain circumstances.

    Mississippi

    Nonjudicial

    No.

    Missouri

    Nonjudicial

    Yes, within one year after foreclosure sale only if foreclosing lender is purchaser at such sale. Borrower must give written notice of intent to redeem at the sale or within ten days before the sale. Borrower must post a redemption bond within 20 days of the sale.

    Montana

    Nonjudicial

    Not after nonjudicial foreclosure under the Small Tract Financing Act.

    Nebraska

    Nonjudicial

    No redemption period after nonjudicial foreclosures.

    Nevada

    Nonjudicial

    No redemption period after a nonjudicial foreclosure.

    New Hampshire

    Nonjudicial

    No.

    New Jersey

    Judicial

    Yes, during 10-day objection period after the sale and up until the court issues an order confirming the sale if objections are filed. Also, if foreclosing lender gets deficiency judgment; redemption period is six months after deficiency judgment.

    New Mexico

    Judicial

    Yes. Borrower may redeem within 9 months, however this period may be reduced by the mortgage or deed of trust to no less than one month.

    New York

    Judicial

    No.

    North Carolina

    Nonjudicial

    Yes, within the ten-day "upset bid" period.

    North Dakota

    Judicial

    Yes, available within 60 days after foreclosure sale except for abandoned property and agricultural land. Agricultural land may be redeemed within 365 days after the filing of the summons and complaint in the office of the clerk of district court or the time of the first publication of the notice by advertisement. The final date for redemption of agricultural land may not be earlier than 60 days after the sheriff's sale.

    Ohio

    Judicial

    Until court confirmation of foreclosure sale.

    Oklahoma

    Nonjudicial

    Until confirmation of the sale.

    Oregon

    Nonjudicial

    No, if the foreclosure was nonjudicial.

    Pennsylvania

    Judicial

    No.

    Rhode Island

    Nonjudicial

    If the foreclosure was nonjudicial, no right to redeem after the sale.

    South Carolina

    Judicial

    No. (While there is no post-sale right of redemption in South Carolina, under certain circumstances the homeowner could get the house back by making an “upset bid” after the foreclosure sale.)

    South Dakota

    Judicial (homeowner can request it)

    Yes, generally one year or 180 days (if mortgage contains language that the 180-Day Redemption Mortgage Act governs).

    Tennessee

    Nonjudicial

    Yes, within two years after foreclosure. Right of redemption may be waived in mortgage or deed of trust.

    Texas

    Nonjudicial

    No.

    Utah

    Nonjudicial

    Not after nonjudicial foreclosure.

    Vermont

    Judicial

    In a strict foreclosure, available six months from date of foreclosure decree unless the judge orders (or the borrower and lender agree) a shorter period. In a foreclosure by judicial sale, the redemption period is six months from the date of the foreclosure decree, unless the court orders a shorter time. Redemption is also available before the sale takes place, even if the initial redemption period expired.

    Virginia

    Nonjudicial

    No.

    Washington

    Nonjudicial

    Not after nonjudicial foreclosure.

    West Virginia

    Nonjudicial

    No.

    Wisconsin

    Judicial

    In Wisconsin, the redemption period ranges from five weeks to 12 months depending on the circumstances and occurs prior to the sale. The property can be redeemed at any time during this period.

    Wyoming

    Nonjudicial

    Yes, within three months (or 12 months, if the property is agricultural) after foreclosure sale.

    Talk to a Lawyer

    Start here to find foreclosure lawyers near you.

    How it Works

    1. Briefly tell us about your case
    2. Provide your contact information
    3. Choose attorneys to contact you
    FACING FORECLOSURE ?

    Talk to a Foreclosure attorney.

    We've helped 75 clients find attorneys today.

    How It Works

    1. Briefly tell us about your case
    2. Provide your contact information
    3. Choose attorneys to contact you