Right of Redemption

In some states, [[wex:mortgagor|mortgagors]] who [[wex:default]] on their loans and lose their [[wex:mortgage|mortgaged]] [[wex:real_property|property]] may recover their [[wex:real_property|property]] by exercising a right of redemption. To exercise the right, [[wex:mortgagor|mortgagors]] must pay their lenders the full amount of their unpaid debt, plus any additional default-related fees. Rights of redemption are governed by state law, which varies on whether and how long rights of redemption persist after [[wex:foreclosure]]. See [[wex:table_property|State Property Laws]].

See [[wex:debtor_and_creditor|Debtor and Creditor Law]]; [[wex:mortgage|Mortgage Law]].

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