What Are Redemption Rights?
When a homeowner fails to pay their mortgage, the lender will eventually file an action to foreclose on the mortgage. After there is a judgment, the Court will order the property sold to satisfy the judgment. Once that sale is held by the sheriff, the borrower has a set period of time to redeem (or buy back) the property. The length of time varies depending on the amount owed from the original mortgage at the time of foreclosure. These rights of redemption may also be sold, and there is an entire industry dedicated to purchasing the redemption rights on distressed property from these homeowners.
Juris Law & Mediation lawyers are experienced in representing both homeowners who are facing foreclosure, and the firms and individuals who purchase the redemption rights to distressed property. There are statutorily required documents that must be created and filed to secure these rights, and we can help you navigate these murky legal waters to ensure you get the rights you paid for or get money for the rights you sold.
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The attorneys and consultants at Juris Law & Mediation have years of business, life, and legal experience between them. As a result, their clients benefit from a no-nonsense approach to solving legal problems: quick, efficient, and cost-effective. The law should be accessible to everyone, and the attorneys at Juris Law & Mediation are ready to help you navigate the sometimes rough waters of your legal issues. Contact our office to schedule a consultation with a property law attorney today.
Juris Law & Mediation represents clients throughout the entire Kansas City and Topeka areas, practicing in both Kansas and Missouri. In fact, we help clients throughout Kansas and Missouri, including but not limited to Olathe, Lenexa, Shawnee, Overland Park, Gardner, Spring Hill, Louisburg, Lawrence, Leawood, Prairie Village, Fairway, Mission, Lee's Summit, Independence, Blue Springs, and beyond.
