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I’m concerned about the permanence of the foreclosure sale I’m contemplating. Doesn’t the former owner have the right to buy the house back within a year?

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I’m concerned about the permanence of the foreclosure sale I’m contemplating. Doesn’t the former owner have the right to buy the house back within a year?

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A. That’s what’s known as a “right of redemption.” Such rights do not exist in foreclosure sales, although they do in tax sales or sheriff’s sales.

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