Redemption Period...
Does anyone know what the redemption period is for the state of GA?
So, correct if I'm wrong. During the redemption period the title is free and clear and the lender owns the property. Once the property has been bought back by the bank, which is now an REO property...the homeowner can or can not purchase back his/her home after the during/after the redemption period?
I'm trying to understand this phase of foreclosure.
Thanks!
You can either wait for somebody with the knowledge to answer, or go find and read the GA stats yourself.
Go to Google, put in "GA Statutes" and you'll be looking at them in a minute.
Then go to Stat. Index and insert "Foreclosure and redemption" and you'll be reading GA law in very short time.:
All states' stats are now online and simple to find and read.
Foreclosure is pretty simple in GA. Fast to the courthouse and no redemption period.
When the attorney says, "SOLD!" it is GONE.
[addsig]
in some states where the house has gone through aucion and there is a period of redemption, the house will still show ownership to the ones that were in default..you could make an offer to buy from the defaultees (not sure thats a word) during this time..
regards-pat