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’ 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 your get the rights you paid for or the get money for the rights you sold.