Pre-foreclosure is the early phase when you first fall behind on your mortgage payments. The lender will issue a notice of default to start the formal process. This notice gives you a specific amount of time to fix the problem. You can pay the overdue amount and bring your loan current during this period. You can also negotiate a loan modification to make your payments more affordable.

You might decide to sell your home through a short sale to avoid foreclosure. A short sale means you sell the home for less than what you owe on the mortgage. This option can help you avoid the damage of a full foreclosure on your credit.

The foreclosure redemption period is a critical time that you need to understand completely. This is the time after the foreclosure sale when you can still reclaim your property. You have the right to pay off the full amount owed and keep your home. The length of this period varies depending on the laws in your state. Some states have very short redemption periods while others give you more time.

You need to act quickly if you want to exercise your redemption rights. Our foreclosure redemption period education helps you understand this important deadline. We provide post-foreclosure education to help you know what comes next in the process. We explain the difference between judicial and non-judicial foreclosure in your state.