Foreclosure Redemption Period Calculator
Calculate your state's foreclosure redemption period and total payoff required to redeem the property. Covers both equity redemption (pre-sale) and statutory redemption (post-sale). State law varies widely — 36 states allow some form of statutory redemption from 30 days to 24 months after the foreclosure sale.
Equity vs Statutory Redemption
Equity redemption exists in every state — you can pay off the full mortgage balance plus costs anytime before the foreclosure sale and retain the property. Statutory redemption is a post-sale right (granted by 36 states' statutes) allowing you to redeem after the sale by paying the auction price + interest + costs. Statutory periods range: AL 1 year, IA 6 months, MI 6-12 months, MN 6-12 months, IL 3-6 months (judicial), KS 12 months (rural), CA NONE for nonjudicial / 3 months for judicial.
Judicial vs Non-Judicial States
Judicial states (FL, IL, NY, NJ, OH, PA, etc.) — lender files lawsuit, court orders sale, redemption period typically 30-180 days. Slower process (6-18 months from default to sale). Non-judicial states (CA, TX, AZ, NV, GA, MI, etc.) — power-of-sale clause in deed of trust allows lender to sell without court. Faster (3-7 months from default to sale). Most non-judicial states have NO statutory redemption — once sale closes, deed transfers irrevocably.
Total Redemption Payoff
To redeem you must pay: (1) full bid price at sale OR full mortgage balance pre-sale; (2) accrued interest at the statutory rate (often note rate plus 2-4%); (3) ad valorem property taxes paid by purchaser; (4) insurance premiums; (5) necessary repairs/maintenance; (6) sometimes a statutory penalty (10% in some states). Purchaser is entitled to be reimbursed for all out-of-pocket expenses before turning over the deed.
Strategic Considerations
Pros of redemption: keep the home, restore credit slowly. Cons: must produce large cash payoff in short window. Alternatives: (1) Loan modification before sale (HAMP successors, FHA HAMP, state HHF programs). (2) Bankruptcy Chapter 13 reorganization — automatic stay halts sale, 5-year plan cures arrears. (3) Short sale or deed-in-lieu (avoids foreclosure but transfers home). (4) Investor redemption — sell the redemption right to a third-party investor for cash. Some investors specialize in this in long-redemption states.
Sources: Fannie Mae Foreclosure Time Frames 2024, RealtyTrac Foreclosure Statutes by State, 12 USC §1715z-23 (FHA loss mit). Last updated: May 2026. Not legal advice.