Property Q&A in Dothan>Question Details

Vanessa, Home Buyer in Dothan, AL

what really does the right of redemptions applies stand for... with the purchase of a home which is in foreclosure

Asked by Vanessa, Dothan, AL Tue Feb 23, 2010

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This question is about this property: http://www.trulia.com/property/3003063917-108-Pine-Needles-D…

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In the state of Alabama the original owner of a foreclosed property has the right to redeem the foreclosed property for one year. They must jump thru some hoops to make it happen. Pay you plus interest, pay all court cost, pay for required maintenance, pay penalties, etc It does on occasion happen, but very seldom. This is called the right of redemption. The length of the right of redemption varies from state to state. Visit my website http://www.TheBobbyDeanTeam.com and register for a list of foreclosed properties. Call me with questions 334-701-1102.
Thanks,
Bobby
0 votes Thank Flag Link Sun Apr 24, 2011
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