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What is a Right of Redemption?

redemption right
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What is a Right of Redemption?

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The right of redemption is the property right you have after the sheriffs sale. It is your time period to redeem the property title back from the creditor. Your right of redemption does have value. You can sell the property, pay-off the mortgage and keep any remaining sale proceeds. This requires you to move out of the home.

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