What is a post-foreclosure redemption period?

A post-foreclosure redemption period is a time frame during which a homeowner may be able to reclaim their home after it has been foreclosed. In Hawaii, this period is six months from the date of foreclosure. During this period, the homeowner may have the option to buy the home back from the lender or investor who obtained the property in the foreclosure process. However, the homeowner must pay all legal fees, court costs, and the amount of money owed up to the date of foreclosure in order to be eligible for the redemption period. If the homeowner is unable to meet all of these requirements, they lose their right to reclaim their home. This post-foreclosure redemption period is an opportunity for the homeowner, but it must be acted upon within the six-month timeframe in order to have any hope of reclaiming the home.

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What is a post-foreclosure redemption period?

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