David Saks: August 2011

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 1267

                                                          #1267

When a foreclosure sale is held following judicial foreclosure an execution or Sheriff's sale is held.

Once the sale has been completed and the foreclosed property sold the former owner or the mortgagor has a certain or specified period of time in which to redeem the property from foreclosure.

This period of time is commonly referred to as the statutory right of redemption period.

Is this true or false.?

Please take your time. The solution is posted below the wildlife photo.

wildlife

A. True

A statutory redemption period is the period of time which immediately follows the foreclosure sale which will provide the borrower with the right to redeem the property from foreclosure by paying the entire balance of the debt plus any interests or costs associated with the redemption.




David Saks



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Comment balloon 0 commentsDavid Saks • August 15 2011 09:53AM
Real Estate Practice : Lesson 1267
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