Re: what is redemption?

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Posted by Don Copy of quick facts. No redemption in Texas on February 28, 2005 at 19:53:02:

In Reply to: what is redemption? posted by Nancy on February 27, 2005 at 18:22:29:

: We might be losing our house soon due to foreclosure. We are trying every way we know to keep it, but in the event that we do lose it we need to be prepared. I keep reading about a "redemption period". What is that? We live in Texas. Thanks

Texas Foreclosure Law Summary I hope this copy is
good enough for you as I did not copy it all due to the space it takes.

Quick Facts
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: Yes
- Primary Security Instruments: Deed of Trust, Mortgage
- Timeline: Typically 60 days
- Right of Redemption: No
- Deficiency Judgments Allowed: Yes
In Texas, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

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Comments:
: : We might be losing our house soon due to foreclosure.  We are trying every way we know to keep it, but in the event that we do lose it we need to be prepared.  I keep reading about a "redemption period".  What is that? We live in Texas.  Thanks

: Texas Foreclosure Law Summary   I hope this copy is
: good enough for you as I did not copy it all due to the space it takes.



: Quick Facts 
: -  Judicial Foreclosure Available: Yes
: -  Non-Judicial Foreclosure Available: Yes
: -  Primary Security Instruments: Deed of Trust, Mortgage
: -  Timeline: Typically 60 days
: -  Right of Redemption: No
: -  Deficiency Judgments Allowed: Yes 
: In Texas, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process. 

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