Can I buy back my home after a foreclosure sale?

Yes, you can buy back your home after a foreclosure sale in Massachusetts. In some cases, the lender may agree to allow you to repurchase the home, as long as you make all the delinquent payments. This is often referred to as a “right of redemption.” However, the lender is not required to offer this option, and they may not do so in all circumstances. If the home has already been sold to a third party, you can still buy back your home. This is known as a redemption sale. In order to do this, you must submit an offer to the new owner that is equal to or greater than the winning bid at the foreclosure sale. The new owner must then accept the offer and sign a deed transferring the property back to you. You must also pay all of the costs associated with the sale, such as the legal fees, transfer taxes, and any unpaid taxes. It is important to note that a redemption sale is a complicated process and is time sensitive. Contacting an experienced attorney is recommended to ensure that you are navigating the process properly and meeting the deadlines set by Massachusetts law. An attorney can also help you negotiate with the new owner to purchase back your home at a fair price.

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Can I buy back my home after a foreclosure sale?

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