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does a right of redemption bond give the homeowner that was foreclosed on the right to live in the property for the year of the redemption period ?? The state of Alabama says that a homeowner loses the right of redemption if he or she does not vacate the property within 10 days of the foreclosure notice.

adonis · Posted: Sun Sep 12, 2010 9:20 pm Post subject:

Welcome Guest,

If the law states that you lose the right to redemption if you stay in the property for more than 10 days after foreclosure sale, then you should abide by it. You should leave the property after foreclosure. If you want to redeem it, then you should pay all the back payments and the fees to the lender within a stipulated time period.

Posted: Tue Sep 14, 2010 5:26 am Post subject:

I didnt ask for advise. I asked for an answer to my question

jameshogg · Posted: Wed Sep 15, 2010 12:06 am Post subject:

Hi Guest,

As far as I know, you won't be able to stay in the property unless you pay off the delinquent amount and redeem the property. However, state laws may vary and you should take the opinion of a foreclosure attorney in this regard.

Thanks

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