The owner's right to recover property before the foreclosure sale, providing he comes up with enough money for loan payments and real estate taxes. If the owner can raise enough funds to pay principal, interest, and taxes on the property, he can reclaim the property before a foreclosure sale, even though foreclosure proceedings may be under way.
Related information about equity of redemption:
- Equity of redemption - Wikipedia, the free encyclopedia
The equity of redemption refers to the right of a mortgagor in law to redeem his or her property once the liability secured by the mortgage has been discharged.
- Equity of redemption - Legal Dictionary - The Free Dictionary
The right of a mortgagor, that is, a borrower who obtains a loan secured by a pledge of his or her real property, to prevent foreclosure proceedings by paying the ...
- equity of redemption - The Free Dictionary
The right of one who has mortgaged property to redeem that property upon payment of the sum due within a reasonable amount of time after the due date.
- Equity of Redemption - Definition of Equity of Redemption
Equity of Redemption is something on the minds of more homeowners at a time of high foreclosures. Learn what it means here.
- Equity of redemption | Define Equity of redemption at Dictionary.com
the right of a mortgagor to redeem the property by paying the debt, even after default in payment of the sum owed. 2. the interest of an owner of land subject to a ...
- equity of redemption: Definition from Answers.com
equity of redemption n. The right of one who has mortgaged property to redeem that property upon payment of the sum due.
- Equity of redemption - Merriam-Webster Online
the right of a mortgagor to redeem his property after the term of the mortgage has expired but before an absolute foreclosure has been authorized. 2 ...
- What is equity of redemption? definition and meaning
Definition of equity of redemption: Aggregate of a mortgagor's rights in the mortgaged property. See also extinguishment of equity of redemption, and right of ...