What is California after foreclosure redemption time period?

Posted by Deb on February 13, 2006 at 21:48:41:

Once and for all, I need to get this cleared up: how long AFTER the sale of a home in forclosure can the owner come back to the buyer and say "here's my money, gimme back my house"? I know that California has a redemption period before the foreclosure sale can occur (90 days notice of default and 21 notice before trustee sale can occur), but that's not the timeframe I'm interested in...it's the time AFTER the sale has happened.

I've heard/read that some states have redemption periods that can last up to a year after the sale, which will seriously inhibit title companies issuing title insurance until the redemption period has passed.

But has anyone ever heard of California having a ONE YEAR REDEMPTION PERIOD AFTER THE FORECLOSURE SALE???? I heard that this was in effect to protect the homeowner from doing anything to hurt themselves "under duress". I've also heard that California has NO redemption period after the sale. I'm really confused. I'd also like to find this in the actual text of the real estate law... anyone know what statute that might be?

Thanks!

Deb

Follow Ups:

• Re: What is California after foreclosure redemption time period? - Deb (again) 14:59:33 02/23/06 (0)
• Re: Kawika is correct . . . but there's a little more - Keith(CA) 12:51:35 02/21/06 (0)
• Re: What is California after foreclosure redemption time period? - steele in minnesota 18:34:28 02/14/06 (0)
• Judicial foreclosure only - kawika_CA 11:53:11 02/14/06 (0)

Name    : 
E-Mail  : 
Subject : 

Comments:
: Once and for all, I need to get this cleared up: how long AFTER the sale of a home in forclosure can the owner come back to the buyer and say "here's my money, gimme back my house"? I know that California has a redemption period before the foreclosure sale can occur (90 days notice of default and 21 notice before trustee sale can occur), but that's not the timeframe I'm interested in...it's the time AFTER the sale has happened.

: I've heard/read that some states have redemption periods that can last up to a year after the sale, which will seriously inhibit title companies issuing title insurance until the redemption period has passed.

: But has anyone ever heard of California having a ONE YEAR REDEMPTION PERIOD AFTER THE FORECLOSURE SALE???? I heard that this was in effect to protect the homeowner from doing anything to hurt themselves "under duress". I've also heard that California has NO redemption period after the sale. I'm really confused. I'd also like to find this in the actual text of the real estate law... anyone know what statute that might be?

: Thanks!

: Deb


Optional Link URL : 
Link Title        : 
Optional Image URL: 

    

    
    
    
   

Foreclosures Section

Foreclosure Help

Foreclosure Investing

Real Estate Articles

Our Site Resources

Discussion Archives