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.
Frequently Asked Questions
What is the difference between equity and statutory redemption?
Equity redemption exists in every state — pay full mortgage balance + costs before the sale to retain the property. Statutory redemption is a post-sale right (36 states) allowing you to redeem after the sale by paying the bid price + interest + costs.
Can I redeem if I'm in bankruptcy?
Filing Chapter 13 before the sale triggers an automatic stay halting the foreclosure. You then cure arrears over 5 years. Chapter 7 only briefly delays foreclosure. Bankruptcy timing is critical — filing the day before the sale is common but risky if the trustee challenges good faith.
Who can redeem in addition to the homeowner?
Most states allow redemption by junior lien holders (second mortgage, HOA), heirs, spouse, and tenants-in-common. Lien holders that redeem step into the homeowner's shoes and may pursue the property themselves. Check your state's statutory list.
What if the lender bid less than the mortgage balance?
This is a 'deficiency' — the unpaid difference. Some states allow lender deficiency suits; others (CA non-judicial, AZ purchase-money, MN, NC, NV-capped) ban deficiency. To redeem you only pay the bid price + costs, not the original mortgage balance.
How can I afford to redeem if I couldn't afford the mortgage?
Common solutions: (1) hard-money loan (8-15% rate, fast close); (2) bankruptcy Chapter 13 reorganization; (3) sell the redemption right to a real-estate investor for cash; (4) family/private loan; (5) Hardest Hit Fund grants in some states (PA, OH, MI, NV, FL). Consult an attorney early.