How to Get Your Home Back After a Foreclosure in California
After a foreclosure sale occurs, most homeowners are under the impression that they have lost their home. In many cases, a foreclosure is not the end. In California, judiciary foreclosures have either a three-month or one-year redemption period. If the sale of the home was enough to cover the loan balance plus fees, the right of redemption is three months. If the sale price was not enough, you have one year to buy your home back. Prepare to pay the sale price plus any additional fees.
Other People Are Reading
Instructions
-
-
1
Refer to the letter you received from the levying office or trustee who conducted the sale for key information. If you are eligible to redeem your home, you will be notified of your right to redemption and when the redemption period expires.
-
2
File a petition with the courthouse to determine the redemption price of the home. According to California Civil Code 729.060, homeowners who wish to redeem a property must pay the sale price of the home, any assessments or taxes, fees for insurance maintained during the foreclosure process.
-
-
3
File a motion to redeem the property. Complete the motion by providing your personal and property information. Include your case number on the paperwork. Submit a copy of the original mortgage deed. The buyer of the property will be notified of your intent to redeem.
-
4
Pay the appropriate balance due after your motion is reviewed. Present a cashier's check in the required amount to the magistrate assigned to your case. The magistrate will verify that the amount is correct. The judge will sign the order of redemption after payment is approved.
-
1
