Home Buying in Foley>Question Details

James T Davis, Home Buyer in 38401

what does Al right of redemption mean?

Asked by James T Davis, 38401 Mon Dec 21, 2009

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Hi James,
In the state of Alabama, Law requires that when a property is foreclosed by a lender, that the property owner be allowed a period of time to redeem the property. In Alabama, that right lasts one full year from the date of foreclosure, wherein the original owner can pay the lender off and get their property back.
To get a complete explanation of these rights, you should consult an attorney.
Good question. If I can be of further assistance, please do not hesitate to send me a private email or call.
Warm regards,
Dedra Lipscomb
Coldwell Banker United, Realtors
1 vote Thank Flag Link Mon Dec 21, 2009
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