Sale in the Redemption Period

Property had 1st and 2nd, in judicial state with 90 day redemption period, went to sale, buyer still on board. If lender accepts the offer for the redemption amount, or less than the redemption amount, is the 2nd no longer an issue or do they get paid a %age of their balance like before the sale?

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Permalink Reply by Wayne Brooks on March 6, 2013 at 8:36am

I'm not in a redemption state, but it would seem if there any type of "redemption" then the foreclosure auction/sale is vacated, and the 2nd is the same as always.

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